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Copper Prices Remained High as the Fed May Keep Raising Interest Rate
2022-5-26
The INE bonded copper 2207 contract fell to 63,330 yuan/mt after the opening, then rose to 63,670 yuan/mt. After fluctuation, it fell to 63,520 and finally closed at 63,500 yuan/mt, down 140 yuan/mt, or 0.22%. The trading volume was 5,584 lots yesterday, and open interest decreased by 2,111 lots to 6,712 lots.
In terms of macro, the minutes of the US Federal Reserve's May morning meeting released early this morning showed that most participants believed that a 50 basis point interest rate hike was more appropriate, and copper prices remained high in the short term. The copper prices are expected to be 63,300-63,700 yuan/mt today.
In terms of macro, the minutes of the US Federal Reserve's May morning meeting released early this morning showed that most participants believed that a 50 basis point interest rate hike was more appropriate, and copper prices remained high in the short term. The copper prices are expected to be 63,300-63,700 yuan/mt today.
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