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    Home > Chemicals Industry > New Chemical Materials > September 5 copper market morning review

    September 5 copper market morning review

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Copper market early assessment: high temperature power cuts in many places in the south have an impact on the supply and demand of electrolytic copper, but the impact on supply is greater, Daye, Tongling, Minmetals, Zhangjiagang, Fuye and other refineries have reduced production, and the actual output of electrolytic copper in August is expected to be lower than expected
    .
    The increase in copper supply disturbances, the overall spot market in August, the tightness of the overall spot market has a significant role in promoting copper prices, but due to the high copper prices and premiums, there is a suppression behavior at the spot procurement end, which will weaken the fundamental support to a certain extent; Tight supply and demand in the short and medium term will drive copper prices to continue to fluctuate higher; In the long run, pessimism in overseas macro expectations will limit the upward height
    of copper prices.

    Copper City

    On the macro front, a number of Fed members followed up and made tough remarks, which are good for the dollar and bearish for copper prices
    .
    Fundamentals, with the gradual end of domestic power rationing, the maintenance of copper enterprises has ended, production has resumed, and supply has gradually returned to normal
    .
    Imported copper has also arrived in Hong Kong
    .
    The main reason for the fall in copper prices last week was a series of speeches by Fed officials, which led to renewed investor calls for a 75 basis point rate hike by the Fed's September interest rate decision
    .
    The market is very divided on the Fed's 50 basis point and 75 basis point rate hikes, which will also lead to large fluctuations
    in copper prices in late September.

    FundamentalsAs supply recovers, copper prices may decline
    .
    After experiencing an unexpected plunge in copper prices last week, copper prices may be mainly adjusted, and the price may be around 59,000 yuan per ton
    .

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