[Brokerage Focus] Macro expectations weakening and poor demand have put pressure on copper prices. There is still a risk of prices falling in the short term.

金吾財訊 · Aug 26 03:48

Jingu Finance News | Zheshang International stated that overseas inflation data fell more than expected, market anticipates Fed rate cut in September, opening up room for rate cut trade, with risk assets showing gradually weaker response to rate cuts. On the spot side, copper mine supply is relatively tight, processing fees have fallen to historically low levels, smelter profits are squeezed, but electrolytic copper production continues to grow, with expectations of supply contraction falling through. In terms of demand, high copper prices are restraining downstream demand to some extent, terminal orders have not improved significantly, processing enterprises are making cautious purchases, and inventory turnover is sluggish. Overall, weakened macro expectations and poor demand are putting pressure on copper prices, with short-term price center still at risk of falling, paying attention to the smelter operating situation.

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【券商聚焦】浙商国际指宏观预期走弱及需求不佳令铜价承压 短期价格重心仍有回落风险

[Brokerage Focus] Macro expectations weakening and poor demand have put pressure on copper prices. There is still a risk of prices falling in the short term.

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【券商聚焦】浙商国际指宏观预期走弱及需求不佳令铜价承压短期价格重心仍有回落风险