Shanghai copper opened high and went high to maintain a strong posture within the day

The US CPI in September released overnight exceeded expectations, and the market heated up expectations for the Fed's aggressive interest rate hike, but the dollar index rushed back down, the US stock market picked up, and the external risk sentiment was still good
.
The sharp strengthening of A-shares during the day also drove the atmosphere of the futures market to warm, and the rally of non-ferrous metals expanded
.
U.
S.
core CPI unexpectedly recorded the highest year-on-year growth in four decades in September, with expectations that the Fed will raise interest rates by 75 basis points
in both November and December.
However, the ECB's internal model said that the end point of interest rate hikes will be lower than market expectations, and European and American stock markets turned higher, which is positive for market risk sentiment
.

In terms of the market, Shanghai Metal Network 1# electrolytic copper quotation 64500-65020 yuan / ton, the average price of 64760 yuan / ton, up 800 yuan / ton from the previous trading day, Shanghai copper 2210 contract 180-140 yuan / ton
.
Today's spot market transaction is general, the mainstream period flat water copper sticker around 170 yuan, good copper sticker 160 yuan around the transaction is acceptable, the second period of reporting decreased, the discount slightly narrowed, wet and poor copper rare
.

Recently, LME copper stocks stopped accumulating, falling slightly for two consecutive days, the proportion of cancellations increased sharply, and registered warehouse receipts fell
.
However, the inventory of Shanghai copper warehouse receipts continued to increase, and the accumulation in the past two days was large, and it increased by more than 4,400 tons
yesterday.
Increased domestic warehouse receipt inventories, but narrowing spot discounts, and firm LME copper spot premiums will support short-term prices
.