August 3 copper market morning review

On Friday evening, overseas stock markets and commodities diverged, most of the non-ferrous metals in the outer disk closed lower, London copper futures closed at 6376 US dollars / ton, down 1.
23%, domestic nonferrous futures fell overnight, Shanghai copper futures 2009 contract reported 51100 yuan / ton, down 1.
05%.

Last week, the copper market was at a high level of volatility, macro US epidemic, Sino-US relations, US economy, Trump talked about postponing the election, many unfavorable news weighed on the dollar to fall, but the copper market is only a high shock, lack of upward momentum, on Friday the dollar began to rebound under the effect of profit-taking, copper market down, reflecting that the copper market after a sharp rise also needs to be adjusted
.

The copper market has been weak and strong for some time, after the V-shaped rebound of the domestic economy, the country is mainly to maintain peace and stability, considering the overall plan and base reasons, copper consumption growth will begin to fall
.
Short-term callback operation
.

Since late July, the risk appetite of domestic and foreign markets has repeatedly wavered, and the market's confidence in the rapid stabilization of the global economy has been shaken, but the world's major economies have further clearly increased economic policy stimulus, which constitutes a support for the real economy and commodity demand, and short-term attention to whether the rise in market inflation can continue, which will determine whether there is further upward space for commodity asset prices, while the market remains to be seen in the follow-up to the global power game
。