According to Jinshi.com, the U.S. CPI grew 3% year-on-year in June, lower than the market expectation of 3.1%. At the same time, the CPI fell 0.1% month-on-month in June, deviating from the market expectation of 0.1% growth. The expectation of interest rate cuts within the year has risen sharply, and the market has doubts about the prospects of economic recovery and demand growth.
In the United States, although the TC costs on the supply side are generally low, there are signs of stabilization, coupled with the previous refinery maintenance coming to an end, the market has expectations of resumption of production. In general, overseas expectations of interest rate cuts have strengthened, market risk appetite has increased, and copper demand has remained weak. It is expected that copper prices will fluctuate at a low level. Pay attention to domestic policy changes under the weak fundamentals.
