Market trading is relatively light Shanghai copper may maintain a volatile pattern

On the macro front, global central banks will continue to maintain their current ultra-loose monetary and fiscal policies in the short term, and although the dollar has been strong after this interest rate meeting, it is largely an overdraft
of future economic growth.

In terms of fundamentals, the current TC price continues to rise, coupled with the domestic storage rumors landed, so the supply side has a more negative impact on copper prices, while on the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand, but due to the current market Fed dumping rumors interference and the impact of the possible tightening of central bank liquidity around the world, so overall, the current relatively neutral attitude
is maintained.

On the US Independence Day, the market trading was relatively light, and driven by the strengthening of crude oil prices, copper prices also showed a volatile trend of higher volatility due to positive feedback from inflation expectations
.
In terms of fundamentals, the current TC price continues to rise, superimposed on the impact of storage dumping and the gradual outpouring of scrap copper, the supply side is gradually biased towards abundance, but on the demand side, the demand that was previously suppressed because of high prices has also recovered when copper prices fall, so the current copper price may still maintain a
volatile pattern.