![](https://static.metal.com/common.metal.com/images/header-en/downward.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/downward.png)
Overnight LME copper price opened at 8384 U.S. dollars / ton, the beginning of the futures quotation price touched higher than 8392.5 U.S. dollars / ton, and then shocked downward bottomed out at 8306 U.S. dollars / ton, the end of the quotation price rebounded slightly to close at 8337.5 U.S. dollars / ton, turnover to 17,000, the volume of 259,000 handles, down by 0.54%.
Overnight Shanghai copper main 2308 contract opened at 67780 yuan / ton, the beginning of a short shock lower and bottomed out at 67520 yuan / ton, and then the center of gravity gradually moved up the end of the plate finally closed at 67680 yuan / ton, turnover to 38,000 hands, positions to 189,000 Lots, or a down by 0.57%.
Macro Aspect, the Federal Reserve discount rate meeting minutes: four local Fed seeks to "raise interest rates" 25 basis points, the market is waiting for inflation data to be released tonight, overnight U.S. indexes lower. Fundamentally, close to the change of the month, the downstream purchasing willingness is low, despite the low price of the holder of concessions, but the actual market transactions are still light. Consumption, the current demand is limited, most of the downstream to maintain just replenishment, is expected to change the month after consumption can be improved. Price, the market is concerned about the U.S. inflation data to determine the path of interest rate hikes, copper prices are expected to maintain a relatively high level.
More popular news:
China Commodity Supply and Demand Boomed in June
China Vows To Increase Macro-Control Efforts, Expand Consumption And Stabilise Investment
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn