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Copper market brief: overnight, the European Central Bank's interest rate decision planned to raise interest rates by 25 basis points for the first time in July, the dollar index staged a "V-shaped" reversal and climbed above 103, copper prices fell slightly under pressure
.
Approaching the Fed's June interest rate decision next Thursday, the capital market is risk-aversion, focusing on the US May CPI data
in the evening.
Inventories on the three major exchanges recovered the next day, and the Las Bambas copper mine in Peru reopened, easing supply anxiety
.
From the perspective of spot premium, the downstream consumption of the market is still weak
.
On the market, Shanghai copper prices are relatively stable
.
Short-term copper prices need to be treated with caution, and there is a risk of a downward shift in the center of gravity, ranging from 72,000-73,000
.
Operationally, it is recommended that the merchant hold the currency and wait and see, and the downstream can stock up on demand
.
