Concentrate supply may decrease and copper is expected to rise strongly

Today's LME March copper first rose and then declined, opened at $6020 in the morning, quickly rose after the opening peaked at $6035.
5, then reversed the pullback, diving to a low of $6003.
5, picked up slightly at midday, and closed at $6017.
5 during the domestic trading session
.

Recently released PMI data show that the economic growth momentum of major economies is good: China's consumption expectations have strengthened in the second quarter, demand for infrastructure construction in the United States is expected to grow, and the manufacturing economy in the euro area is improving
.
Higher commodity prices were supported
.
Copper prices rebounded, and London copper returned above
$6,000.
Frequent events in copper mines this year have led to a decrease
in production.
The Grasberg copper mine's 2017 production was lowered to 95,000 tonnes per day from 140,000 tonnes per day, a reduction in production of this scale that will inevitably tighten copper concentrate supply throughout the year, and copper prices may continue to rise
.

The recent hype hotspots focus on U.
S.
infrastructure construction and China's infrastructure construction for consumption boost, but from the current consumption situation, downstream orders need to grow, spot demand is weak, need to continue to pay attention to the change
of premium.
Today's market trading is light, traders are more active, imported copper is more, smelters basically do not ship
.
Copper prices rebounded, coupled with poor orders, weak downstream procurement willingness, no demand for stocking, and a small amount of on-demand procurement
.

From the perspective of futures disk, today's daily level BOLL track smoothly moved up, K-line at the 20-day moving average support is strong, but the volume can be reduced, the market volume reduction indicates a decline
in capital activity.
It is expected that copper prices will fluctuate and rise, and short-term support can be seen at 47500 yuan
.