Copper prices continue to rebound, and downstream companies continue to wait and see

Base and ferrous metal sentiment remains bullish
.
According to data released by China at the end of last week, China's industrial enterprises' profits increased more than expected in October, indicating that the positive trend of corporate performance has been further consolidated
.
The National Bureau of Statistics announced on Sunday that from January to October, the profits of industrial enterprises above designated size in the country increased by 8.
6% year-on-year, 0.
2 percentage points
faster than in January-September.
Among them, the profit in October increased by 9.
8% year-on-year, and the total profit was 616.
1 billion yuan, which was 2.
1 percentage points
faster than in September.

In addition, the Organization for Economic Co-operation and Development (OECD) raised its global economic growth forecast on Monday, and said that as the Trump administration's tax cuts and public spending plans ignite the US economy, global economic growth will grow faster than previously expected in the coming months, and the OECD also estimated that the global economic growth will be 2.
9% this year, accelerating to 3.
3% in 2017 and rising to 3.
6%
in 2018.

Analysts said demand for U.
S.
Treasuries supported prices and pulled yields
lower.
As investors seek to rebalance their portfolios, there will be demand
for U.
S.
Treasuries towards the end of the month.
LME three-month copper rose nearly 3 percent to $
6,045.
50.
Today's Shanghai spot 1# electrolytic copper quotation is 47820-48020 yuan / ton, down 700 yuan / ton, discount 170-discount 80 yuan / ton
.
The intention of middlemen to receive goods is not positive, and downstream enterprises still maintain a wait-and-see state
.
Overall, the copper market performance is average
.