LME copper futures are nearly flat, with interest rate cuts expected to offset weak demand

Gold Ten Futures, July 5th, according to foreign media news, copper futures rose on the London Metal Exchange (LME) on Thursday. Investors are optimistic about the possibility of US interest rate cuts, while worried about high inventories and sluggish demand in China. Hansen, head of commodity strategy at Saxo Bank, said that it looks like the market focus is once again turning to the possibility of US interest rate cuts. Weak US economic data has raised the possibility that the Federal Reserve will start cutting interest rates in September, which has caused the dollar index to fall. However, Hansen said that another rise in copper prices not only requires the central bank to cut interest rates, but also needs to be supported by a recovery in demand and a reduction in inventories. The market is currently on the sidelines. With copper prices approaching the $10,000 mark, it is easy to trigger profit-taking. Stocks of copper on the London Metal Exchange have surged 80 per cent since mid-May to 186,275 tonnes, while stocks in Shanghai Futures Exchange warehouses have fallen slightly in recent weeks but are still 10 times the level at the start of the year.