Copper pipe market today

Yesterday night trading Shanghai copper shock stronger. 1 The labor cost index of the United States in the third quarter reported 1.1% Q/Q, higher than expected and the previous value (1.00%), indicating that the growth of employment costs in the United States unexpectedly accelerated in the third quarter, adding to the market's concern that the strong labor market may keep inflation above target. Fundamentals, September SMM China electrolytic copper production of 1.012 million tons, an increase of 23,000 tons, an increase of 2.3%, an increase of 11.3%; And an increase of 25,900 tons from the expected 986,100 tons. The cumulative output from January to September was 8,486,100 tons, an increase of 874,800 tons, or 11.49%. On the demand side, The State Council and other departments issued a package of measures to stabilize the economy, to hedge the economic monetary and fiscal policies, increase infrastructure investment, increase support for real estate, and force the consumer side policy, copper pole consumption supported by grid orders is better.