社库并未继续累积 沪铜偏强震荡【11月10日SHFE市场收盘评论】

Core Viewpoint - The domestic copper market shows a slight decline in social inventory, supporting copper prices amid ongoing concerns about tight supply from mines [1] Group 1: Market Performance - Shanghai copper closed up 0.62% after a day of strong fluctuations [1] - As of November 10, domestic electrolytic copper inventory was 198,300 tons, a decrease of 4,300 tons compared to November 6 [1] Group 2: Supply Concerns - Domestic copper concentrate processing fees remain around -40 USD per dry ton, indicating ongoing tightness in supply [1] - Market concerns about tight supply are bolstered by recent announcements from some mining companies lowering their annual production targets [1] Group 3: Future Outlook - Jinrui Futures anticipates that the market will maintain high-level fluctuations in the short term, with a slight oversupply in the fundamentals [1] - Future attention should be given to the impact of Indonesian mines on the non-US copper inventory [1]