SunSirs: The Morning Post of Copper on January 22nd
January 22 2025 11:03:04 SunSirs (John)
On a macro level, the monthly and annual growth rates of the adjusted core CPI in the United States have slowed down compared to the previous quarter. Federal Reserve Governor Waller stated that if future inflation data performs well, there is a possibility of another interest rate cut in March, and more frequent rate cuts may be made. Copper prices are expected to maintain a rebound trend due to favorable comments.
Domestically, it has been reported that three newly built ultra-high voltage projects by State Grid Corporation of China have been put into operation, and State Grid's investment is expected to reach 650 billion RMB by 2025, driving industrial demand. Affected by favorable factors, copper prices have started to rebound at the low end of the range.
In the short term, domestic social inventory is expected to accumulate as scheduled before the holiday, but the accumulated inventory is relatively limited, and the inventory remains at the bottom level of nearly a year.
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