Copper prices rose all the way to maintain an upward trend

In terms of external trading, the morning of the Asian market London copper opened high at 5770 US dollars / ton, the opening touched the intraday low, affected by the People's Bank of China's cut of MLF interest rate, soon after the opening of the London copper performance straight line above the 5800 US dollar mark, and then the overall center of gravity basically remained around 5815 US dollars / ton, the Asian market ended to test the high of 5828.
5 US dollars / ton
.
Entering the European market, copper prices gave up, but the center of gravity basically remained above
the $5800 integer mark.
On the one hand, due to the favorable release of capital flows in China, on the other hand, the epidemic situation in China has eased, and the market hedging has cooled down, which has promoted the general positive
.

In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 10 yuan / ton ~ 90 yuan / ton, flat water copper trading price of 45700 yuan / ton ~ 45960 yuan / ton, and a premium copper trading price of 45720 yuan / ton ~ 45980 yuan / ton
。 Shanghai copper continued to step upward trend, the center of gravity slowly moved up, the day is the last trading day of the 2002 contract, the performance of the 02 contract has been delayed, and the 03 contract price difference continues to fluctuate in the range of 200-240 yuan / ton, most of the holders have turned to the 2003 contract quotation, the morning market flat water copper to the 03 contract discount 180-170 yuan / ton, good copper discount 150 yuan / ton or so, Guixi copper can be reported to the discount of 130 yuan / ton
.

Intraday market quotations have been seen that the spot discount after tomorrow's change of month will have a further expansion trend, short-term supply is sufficient, and later in the week, if the source of warehouse receipts returns to the spot market, and the demand has not recovered, logistics and transportation also need to wait for the latest policy guidance of the government, the pattern of oversupply will continue
.
And after the completion of delivery, it is difficult for warehouse receipt trading to have sustainable trading favor, and the performance of spot trading difficulties will still be difficult to improve
.
Afternoon spot warehouse receipt demand due to the end of the curtain on delivery, resulting in a more obvious reduction in afternoon trading demand, after the end of delivery, in the downstream resumption of work is not ideal, holders are still worried about the later demand, so the afternoon quotation large area of discount expansion, afternoon flat water copper discount 200 yuan -190 yuan / ton, good copper discount 180-170 yuan / ton, afternoon transaction due to the rise of the plate and performance higher, the transaction price at 45920-46020 yuan / ton
.

Shanghai copper rose across the board, mainly due to the domestic central bank's "interest rate cut" operation again within the day, the central bank carried out a medium-term lending facility (MLF) operation of 200 billion yuan during the day, and the winning interest rate was lowered by 10 basis points to 3.
15%; At the same time, a 7-day reverse repurchase operation of 100 billion yuan was carried out, with a total net investment of 300 billion yuan, market confidence was boosted, the domestic stock market was rising, and the trend of Shanghai copper was also very strong
.
In terms of the epidemic, the president of Leishenshan Hospital recently said that the inflection point of the epidemic has arrived, and the domestic epidemic control effect has initially appeared, but due to the increase in coronavirus patients in Japan, Singapore and other countries, the potential risk factors are still large, and it is still necessary to be vigilant against the restrictions of the epidemic on the high point of copper prices, continue to pay attention to the progress and risk points of the epidemic, and test whether Shanghai copper can stabilize the high of 46500
.