Today's Relevant Market Trends

                                                      Today's relevant market trends

The US Iran situation has returned to the negotiating table, and external risks have eased. Nasdaq futures rose 0.46% in early trading, while concept stocks such as semiconductors and optical communications rose. The Federal Reserve raised interest rates by 25bp to 5.25%~5.50% on September 17, marking the first interest rate hike since July 2023. The high interest rate environment has exerted some pressure on the overall commodity market.  

Short term sentiment analysis of factors affecting copper prices: AI narrative, third quarter report catalysis, positive institutional views, and the presence of active funds attacking new technologies in the market.  

Interest rate suppression: High interest rates increase holding costs and suppress capital expenditures. Copper, as a traditional industrial metal, still needs to wait for substantial recovery from the real consumer end.  

Supply/demand structure: The upward driving force of most commodities has shifted from demand driven to supply constrained and cost supported, and copper is also affected by this logic.  

Non ferrous metals (copper, tungsten, and small metals) have been listed by institutions as a key focus after the decline in US bond rates and the easing of geopolitical risks.