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On Monday, the main force of Shanghai copper 1707 months oscillated upward, after the morning opening in the higher shock finishing, a slight decline bottomed out after rebounding and rising, the end of the rise to the highest point after the shock finishing, and finally closed at 45430 yuan, up 400 yuan, or 0.
89%, the position decreased by 2448 hands to 214120 hands
.
In the external market, the LME copper fluctuated higher in March
.
It opened at $5560.
5 in the morning, rose from the lowest point of $5560.
5 after the open, reached a certain high in the morning and then pulled back slightly, then recovered again and maintained volatility, and then rushed up again to the highest point of $5607.
5 at the end of the day, and closed at $5604 during the domestic trading session
.
In terms of news, after the weak PMI and import and export data, the latest April industrial added value, fixed asset investment, retail sales of consumer goods and commercial housing sales data weakened across the board, and China's latest round of economic rebound may have peaked
.
As the destocking cycle nears the end, real estate regulation and control have been repeatedly increased, the main momentum of this round of economic recovery has been significantly attenuated, and strict financial supervision has increased, and the financing difficulty of the real economy has been pushed to the foreground
again.
Affected by the continuous strengthening of macro pressure, industrial products remained weak, and the black commodities that are most sensitive to the macro economy fell sharply, but the rebound did not turn, but fell back last week and this week, reflecting the low market sentiment
.
In the copper market, although Peru and Chile have some strike interference, concentrate processing fees have recovered slightly in the past two weeks, and so far, concentrate supply disruption has not affected the production of
electric copper.
In general, the peak season exchange inventory has increased significantly, and the bonded inventory is still more than 600,000 tons, the process of inventory digestion is still very long, and it is far from being tight supply, and consumption, it is currently in the peak season, but the time is gradually transitioning to the off-season, and consumption expectations are gradually weakening
.
Therefore, the corresponding copper price may maintain a volatile and downward pattern
.
