SMM

News: (1) Federal Reserve officials hawkish, hinting at a slowdown in the pace of interest rate cuts, the number of dollar rate cuts is expected to be reduced to 2-3, and U.S. Treasury yields are higher. (2) In 2023, all the projects for the issuance of additional treasury bonds of 1 trillion yuan will be completed, mainly including the post-disaster recovery and reconstruction of North China with the focus on the Beijing-Tianjin-Wing and the improvement of disaster prevention and mitigation capabilities, the project of improving the emergency response capacity of natural disasters, and the construction of a comprehensive prevention and control system for key natural disasters. Spot: (1) Shanghai: On February 7, 1# electrolytic copper reported a discount of 30 yuan/ton - a premium of 20 yuan/ton for the 2402 contract of the month, and the average price was quoted at a discount of 5 yuan/ton, down 25 yuan/ton from the previous month. Today is the last trading day before the Spring Festival, and the spot market is expected to remain cold, and the price of the holder may provide guidance for the premium after the year, and the premium is expected to stabilize and operate.