China Customs Helds a Press Conference [Seebest Cable quoted the news of China Customs website] At 10:00 am on July 13rd, 2022, Beijing time, the Chinese Customs helds a press conference, with the theme of "China's Import and Export Situation in 2022" at The State Council Information Office, P.R.C. In the first seven months in 2022, China's imports and exports of goods totaled 23.6 trillion yuan, a year-on-year increase of 10.4%. Foreign trade overcame many adverse effects and achieved rapid growth. Among them, exports denominated in US dollars in July increased by 18% year-on-year, which was higher than the general expectation of overseas media and economists. Overseas media and experts believe that the latest foreign trade data highlights the resilience of China's economy and provides support for the continued and steady development of China's economy. Since the beginning of this year, China's utilization of foreign capital has increased steadily. On the one hand, China's market scale has a strong attraction for foreign capital; on the other hand, China's continuously optimized investment environment has also increased its attraction for foreign capital. According to the data of the Ministry of Commerce, from January to July 2022, the actual amount of foreign capital used in China was 798.33 billion yuan, an increase of 17.3% year-on-year according to the comparable standard (the same below), equivalent to US $123.92 billion, an increase of 21.5%. At a regular press conference held a few days ago, relevant responsible persons of the Ministry of Commerce said that since the beginning of this year, a number of multinational companies, including BMW, have accelerated their investment layout in China. Multinational corporations have accelerated their investment layout in China, which fully shows that foreign-funded enterprises have no less confidence in the Chinese market and are optimistic about their long-term development prospects in China. Final, Seebest Cable believes that although China's foreign trade is still affected by adverse factors such as the impact of the epidemic, the War Between Russia and Ukraine, the Rise of Commodity Prices, the Large Fluctuation of the Exchange Rate, and the United States is trying to Contain China's Development, China's economic situation is good and the development momentum is good. China is still indispensable to the global supply chain. Therefore, Seebest Cable has decided to intensify its foreign trade work, adhere to the policy of "Rooted in Fujian, Based on China, Relying on ASEAN, Expanding Countries along the the Belt and Road, and Developing European and American customers", and try its best to serve domestic and foreign customers.

Chinese Market Releases Good News, the Copper Prices Will Rebound Further. [Seebest Cable News] Reuters survey shows that as China releases more infrastructure spending and other economic stimulus measures, copper prices are expected to rebound further in the coming months after being hit hard. New and more infrastructure projects and support for China's real estate market boosted copper prices this week. In early trading on Friday, copper prices on the Comex Market in New York rose 2.9% to $3.58 per ton. "As market sentiment has shifted sharply from extreme bullish to bearish, industrial metal prices may have been lower than expected," said Carsten Menke, an analyst at Baosheng, Switzerland. "Although China's blockade may still have an impact, we believe that the worst period of China's economic growth has passed." Analysts predict that the supply tension will ease, and have lowered the global supply shortage forecast this year to 30000 tons, less than one-third of the 110000 tons predicted by the April survey.

By 2030, the global demand for copper will reach 28.5 million tons. [Seebest Cable News by Mr. Daniel Yao at 09:00 am GMT+08, July 09th, 2022, the news from Cable abc.com] At present, with the intensification of geopolitical risks, high inflation and the continuous impact of covid-19, copper is facing various risks, which may undermine the prospects of key metals needed to rid the world of fossil fuels. At the recent World Mining Conference in Toronto, CRU, a British commodity research institution, said that copper was currently facing various risks, including geopolitics, high inflation, COVID-19, slower than expected adoption of green technology, an increase in scrap suppliers, and the substitution and reduction of industrial metals. Copper prices on the London Metal Exchange fell as much as 2.3% on June 13rd, the largest decline in a month, as concerns that the Fed's interest rate hike will plunge the economy into recession intensified, and commodities fell along with the U.S. stock market. The red metal fell 4.4% this year after surging more than 25% annually in the previous two years. Nevertheless, the long-term demand outlook for copper remains intact, boosted by consumption in industries such as electric vehicles and clean energy technology. "Green energy should make a significant contribution, and the demand for copper will increase by 2million tons by 2030." CRU's latest forecast says that global copper demand will grow by 2.1% annually to 28.5 million tons by 2030. By 2040, copper consumption from green energy is expected to account for 20% of total consumption, up from 2% in 2015. "Without the demand for green energy transformation, global copper consumption will stabilize at about 25million tons around 2027," CRU revealed.

[Seebest Cable News by Mr. Daniel Yao at 09:00 am GMT+08, July 09th, 2022, the news from Cable abc.com] The copper price recovered 60,000 level overnight, and the market trading was active, and the mood improved. Looking for support, the main futures contract of Shanghai copper stopped falling on Thursday and opened sharply higher on Thursday night. On the whole, the macro sentiment eased, and the short sellers closed their positions with profits, leading to a rebound in copper prices. On the macro level, the minutes of the Federal Reserve meeting in June showed that even if the US economy slows down, interest rates may still need to keep rising for a longer period of time to prevent high inflation from becoming entrenched. In the minutes of the meeting, participants described the labor market as "overheating", which seemed to cast a ray of hope for the future. The whole meeting minutes will focus on "inflation". All changes in monetary policy will take inflation as the most critical consideration standard, while labor market and economic development will be of secondary importance. In terms of fundamentals, according to the 56 sample enterprises surveyed by Mysteel, the total capacity is 13.525 million tons. In June 2022, the national refined copper rod production was 750.79 million tons, an increase of 5.25% month on month and 6.83% year on year; In June 2022, the utilization rate of refined copper rod production capacity was 67.45%, with a month on month increase of 5.44% and a year-on-year increase of 2.41%; The overall production level of the market is picking up steadily, the impact of the early epidemic is basically digested, and the production and sales performance of refined copper rod market is picking up steadily. At present, market sentiment is still fragile, and copper prices may continue to have high volatility in the future. It still takes time to stabilize. Pay attention to U.S. economic data. In the short term, there is a possibility of technical withdrawal of copper prices. It is expected to enter the low shock stage in the later stage.