Contango Spread Strengthens, Spot Copper Premiums Expected to Remain High Amid Tight Supply

According to Cailian Press, on Tuesday (the 10th), US Eastern Time, Nvidia CEO Huang Renxun unusually published a long blog post in his personal capacity titled “AI is a five layer cake,” and wrote: “We are just getting started with this buildout. We’ve already invested hundreds of billions of dollars. There are trillions of dollars of infrastructure yet to be built.” Huang Renxun wrote: “Artificial intelligence is one of the most powerful forces shaping the world today. It is not an intelligent app or a single model; like electricity and the internet, it is indispensable infrastructure.”

According to Polaris Power Network, the Jirige (Kusha II) 500 kV power transmission and transformation project was officially approved by the Energy Administration of the Inner Mongolia Autonomous Region, marking a good start for power grid construction in Ordos in the opening year of the 15th Five-Year Plan. As a key power grid project that was among the first to be launched in the opening year of the 15th Five-Year Plan, the project’s approval and implementation marked a critical step forward in regional power grid development.

At 20:30 tonight, the US Bureau of Labor Statistics will release the February Consumer Price Index (CPI) report, which the market generally expected to show almost no change from January’s data. This CPI report will be closely watched by the market, as investors use it to assess the trajectory of US inflation and the possible direction of US Fed policy, thereby judging whether it will have a bearish or bullish impact on copper prices.