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The trade war re-showed signs of easing, the US dollar index fell below the 90-point mark to support copper prices to rise in shock, the main force of London copper continued to rush high in early trading close to the $6900 line, the main force of Shanghai copper was driven by the favorable trend to improve significantly, after breaking through the 20-day moving average in early trading continued to rise, the current downstream consumer demand recovery continued to pick up, the technical surface showed a clear upward trend, it is expected that the rise in copper prices in the short term will be maintained, but the increase in inventories superimposed on the subsequent uncertainty of the trade war is expected to inhibit the rise in copper prices.
It is expected that Shanghai copper will continue to test the 51,000 yuan mark today
.
In terms of the market, Shanghai copper vigorous, rebounded to above 51,000 yuan / ton, the plate rushed up to more than 600 yuan / ton, today's market receiving sentiment dropped significantly, the morning market quotation premium 50-100 yuan / ton, due to the serious lack of shipments, the holder took the initiative to reduce the quotation to 40-80 yuan / ton range before the transaction was reflected
.
In the second trading session, due to the stagnation of downstream pick-ups, the quotation continued to be lowered to 30-70 yuan / ton
.
After 11 o'clock, traders eager to exchange cash have appeared to quote 20 yuan / ton of flat water copper, good copper premium 60 yuan / ton, buying interest is obviously not as good as yesterday, the increase in the willingness to exchange cash at the high and the current situation of fear of high stop confrontation, making the price of premium difficult, but flat water copper is unwilling to discount shipments, but also make the space for the reduction below limited, short-term small rise trend may continue
.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders are more willing to sell, the holders are more at a high price premium shipment, due to the narrowing of the price difference of waste electricity, most of the downstream turn to the purchase of high-quality electrolytic copper, scrap copper has no obvious advantages, demand is further reduced, supply and demand sides continue to wait and see
.
