SunSirs: The Morning Post of Copper on December 2nd
December 02 2024 14:43:16 SunSirs (John)
On a macro level, after Trump took office again, investors' concerns about his tariff policies potentially dragging down the economy and the resurgence of inflation have intensified. Coupled with expectations of a recent slowdown in inflation indicators and hindered interest rate cuts, copper prices have come under pressure; And a 25 basis point rate cut at the end of the year may have become a market consensus. Unless the rate cut is higher than expected, the US dollar index may remain strong, and copper prices will continue to be weaker in the short term.
From a fundamental perspective, in November, due to maintenance and the shortage of cold materials, domestic refined copper production is predicted to decrease, copper prices have stopped falling at a low level, and rigid demand consumption remains resilient. Domestic social inventory continues to deplete, which is favorable for copper prices.
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