The latest report from Golden 10 Data points out that copper futures prices on the London Metal Exchange (LME) have climbed for the fourth consecutive trading day. There are multiple positive factors behind this rise. The primary factor is that China's market demand shows signs of strengthening. As the world's largest metal consumer, the rebound in China's copper demand has significantly boosted market confidence and sentiment. At the same time, algorithm-driven funds have jumped into the market to buy, and their trading activity has added additional impetus to the upward momentum of copper prices.
It is worth noting that copper prices have always been regarded as a barometer of the health of the global economy, and its trends often reflect the pulse of the global economy. The continuous rise in copper prices is not only a positive response to the recovery in China's economic demand, but also reflects the market's optimistic expectations for the prospects of global economic recovery.
In addition, the weak performance of U.S. economic data, especially the slowdown in the job market and the decline in inflation, has further strengthened market expectations that the Federal Reserve may start an interest rate cut cycle in September this year. Cutting interest rates will directly reduce credit costs, which is expected to inject new vitality into economic growth and indirectly boost demand for commodities. The base metal market, including copper, will benefit from this. Therefore, under the combined effect of multiple positive factors, copper prices are expected to continue to maintain their upward trend. #伦敦证券交易所 #美国首次申领失业救济人数超出预期