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May 31 Copper Market Morning Review

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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copper carrots

normal soft spot

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Copper market morning comment: Copper prices continue to fluctuate
in range at night.
From the current situation, downstream demand has gradually recovered, logistics has improved compared with the previous period, and the inventory backlog of copper enterprises has been alleviated
.
Shanghai plans to lift the lockdown from June 1, and production is expected to gradually return to normal
.
The dollar generally continued to be weak
.
LME inventories continued to decline, with spot discounts
.
Copper prices may fluctuate in the short term, and are still supported
by new energy demand in the medium and long term.
It is recommended to pay attention to the domestic epidemic, spot demand, copper downstream starts, inventory and other conditions
.

Copper City

Market expectations for more aggressive interest rate hikes by the Fed eased, risk appetite continued to improve recently, and the US dollar index continued to decline, releasing upward pressure on external metals; Shanghai announced the orderly resumption of access to residential areas in June, and consumption is expected
to recover.

At present, the overall domestic consumption is sluggish and the supply is relatively loose
.
With the gradual lifting of the epidemic in June, logistics gradually resumed, enterprises resumed work and production, domestic stimulus policies supported, downstream enterprises or accelerated replenishment, copper prices will rebound
slightly.
It is expected that copper prices in June may be mainly volatile
.

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