The trend of copper prices fell and the decline continued to expand during the day

Overnight, Fed officials expressed their favor for another 75 basis point rate hike at this month's policy meeting, but U.
S.
inflation is still high, market concerns about accelerating interest rate hikes remain, the dollar index continues to rise, and LME metals are still generally sold off, dragging down domestic metal trends
.
Jinrui Futures said that the market continues to trade the logic of accelerating interest rate hikes under high inflationary pressure, the US dollar continues to strengthen, and domestic real estate risks continue to ferment, and market worries have increased
.

LME copper stocks have fallen recently, now less than 130,000 tonnes, although Shanghai copper warehouse receipt stocks have increased significantly, from 16,700 tonnes to 25,800 tonnes
.
And copper stocks in mainstream areas across the country increased by 0% from Monday.
150,000 tonnes to 120,700 tonnes, up 0.
26 million tonnes from Friday, and weekly inventories edged higher
.
Guotai Junan Futures said that domestic supply continues to increase, warehouse receipt inventories have rebounded, and copper prices are expected to remain weak
.

In terms of the market, Shanghai metal network 1# electrolytic copper quotation of 54500-55280 yuan / ton, the average price of 54890 yuan / ton, down 1410 yuan / ton from the previous trading day, the 2207 contract reported up 200 liters 260 yuan / ton
.
Today's spot market transaction is average, and the premium is down 15 yuan/ton
from yesterday.
Today's market on the 08 contract reported a discount, due to the low trading activity, intraday premium gradually lowered, flat water copper mainstream rose 170 yuan up to 170 yuan to trade, good copper mainstream rose about 190 yuan to trade, wet and poor copper rare
.

Shanghai copper opened lower today, and the latest opening price of the Shanghai copper 2208 contract was 55060 yuan / ton, down 680 yuan
.
Pessimism still dominates the market, although Fed officials weakened the 100 basis point interest rate hike in July, but the market still continued to fall, the pattern of strong domestic supply and demand continued, the supply-side investment and resumption of production capacity steadily advanced, superimposed on the smooth logistics led to an increase in arrivals, follow-up inventory or continued accumulation, while the downstream remained cautious, the transaction atmosphere was generally biased, the traditional off-season trend was difficult to change, copper prices continued to decline, and copper was expected to continue to fall
.