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Today, Shanghai copper is operating
steadily.
At the end of the day, the main 2105 contract of Shanghai copper closed at 66190, up 310, or 0.
47%.
The U.
S.
index fell during the day, boosting copper prices
.
Sino-US inflation expectations coupled with the global delay in seeing the phenomenon of destocking, copper prices lack momentum, at present, in the case of light news, copper prices maintain range shock sorting, vigilance against the risk of
pullback.
It is expected that Shanghai copper will stabilize at night, or decline, pay attention to the stabilization around 66,000, and operationally recommend that cargo manufacturers ship appropriately, and wait and see downstream
.
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 certain differences in the future supply of copper concentrate, but it is still difficult to say that it is generous, and 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 maintaining 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.
