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Today's Shanghai copper range is volatile, showing a roller coaster trend
.
At the end of the day, the main 2105 contract of Shanghai copper closed at 66850, down 250, or 0.
37%.
The U.
S.
index slipped slightly during the day, and copper prices converged losses in the afternoon
.
At present, copper concentrate TC continues to be at a low level, superimposed on green energy, there is still a preference outlook in the medium term, and the probability of trend downward is small
.
In the near future, it is necessary to pay attention to the improvement of the consumption side, it is expected that there will be a slight rebound at night, the main reference range: 6.
67-67,600, and it is recommended that the merchants wait and see the mainstay, and the downstream bargain stock.
On the macro front, global central banks are likely to continue to maintain their current ultra-loose monetary and fiscal policies, and the US dollar is expected to remain weak
.
In terms of fundamentals, the CSPT team failed to finalize the floor price of copper concentrate processing fees in the second quarter of 2021, indicating that the market may have some amortization for future copper concentrate supply, but it is still difficult to say that it is not generous
.
On the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand, and the next peak season destocking is likely to form a strong support for copper prices, temporarily maintain the long-term bullish judgment of copper prices, but if the destocking in the second quarter is not as expected, the rise in copper prices may be weaker
than previously expected.
