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Today's Shanghai copper gap opened high, maintaining high operation, the main month 2005 contract opened at 38370 yuan / ton, the highest intraday 38900 yuan / ton, the lowest 37520 yuan / ton, settled 38150 yuan / ton, closed 38200 yuan / ton, up 1570 yuan, up 4.
29%.
In terms of external trading, during the Asian session, London copper trend is strong, the latest quotation at 15:08 Beijing time is 4714 US dollars / ton, up 113 US dollars, or 2.
46%.
Copper prices rose on Tuesday as measures to contain the coronavirus in major mining countries heightened supply concerns and boosted sentiment after the Federal Reserve rolled out a series of stimulus measures
.
LME three-month copper rose 2% to $4,721.
50 a tonne at 0236 GMT, and the most actively traded copper futures contract on the Shanghai Futures Exchange (ShFE) rose 4.
2% to 38,160 yuan ($5,392.
72)
a tonne.
In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price reported 38100 yuan / ton, up 1610 yuan, discount 30-liter 30; Guangdong spot 1# copper price was 38070 yuan / ton, up 1600 yuan; Yangtze River spot 1# copper price 38150 yuan / ton, up 1580 yuan, 10-30 liters; Shanghai spot 1# copper price was 37950 yuan / ton, up 1310 yuan
.
Holders generally shipped at high prices, market confidence recovered, and trading improved
significantly.
The epidemic threatens copper concentrate supply, China's copper concentrate processing fees fall, and as China's consumption recovers, there is support at the bottom of copper prices, which may fluctuate
in the short term or range.
Copper is often seen as an indicator of global economic health, but the coronavirus outbreak has negatively
impacted global economic health.
The coronavirus outbreak has killed more than 14,000 people worldwide and infected more than 300,000 people
.
Pandemic control measures in mining countries have also supported copper prices, with Congo imposing a two-day lockdown
in parts of its copper mine hinterland.
Chilean copper miner Codelco said low prices put some of its projects "at risk", while large listed copper producer Freeport said it would cut production
due to the pandemic.
