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Copper prices fluctuated at a high level yesterday, among which the Shanghai copper 1603 contract closed at 36,700 yuan / ton at the end of the current month, up 430 yuan / ton from the previous trading day, or 1.
19%.
The main 1605 contract of Shanghai copper finally closed at 37,000 yuan / ton, up 570 yuan / ton from the previous trading day, or 1.
56%.
On the macro front, in addition to the sharp rise in China's stock market, the expectation of continued growth of the US economy is also the main reason
.
The U.
S.
private sector reported good growth in employment on the day, and the market expects Friday's U.
S.
employment data to perform well
.
Recently, the macro atmosphere has warmed up, and the panic index has fallen
sharply.
As the first year of the 13th Five-Year Plan, China's policies have attracted attention, and the market expects that China's policies will be relaxed
.
In the copper market, China's recent import loss is about 1,000 yuan, and trade premiums have also fallen sharply, but LME inventories are still decreasing, which is a positive factor, pay attention to the changes in
China's inventories.
Although it is reported that consumer buying is not good, the narrowing of discounts, rising prices, and narrowing of discounts are more positive than the market
.
The main reason for the recent rebound in copper prices lies in the expectation of sales and storage, and the implementation of expectations has become the key
to whether copper prices can continue to rise.
Overall, the domestic copper price performance is strong during the day, and it is expected that copper prices will still rise in the short term due to the expectation of maintaining stability during the two sessions
.
The LME is at $5,000 and the domestic is $38,500/$900
.
