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Copper prices are generally in a volatile upward trend
this week.
With the gradual lifting of overseas epidemic prevention lockdowns and the acceleration of economic reopening, investors still have optimistic expectations for the macroeconomic outlook, and the Markit manufacturing PMI in Europe and the United States rebounded and was better than expected during the week, indicating positive signs of economic recovery; At the same time, the stimulus policy continues to exert force, and the United States is expected to pass a new round of stimulus legislation
in July.
Under the condition that the capital level continues to loosen to support the economic development, copper prices maintain a rising tone
.
The return after the holiday coincides with the transition period spanning July at the end of the month, or it will still show a strong and weak situation, and copper is still a leading variety of metals
.
Although the rise of Shanghai copper is weaker than the external market, but still based on the 47,000 yuan / ton mark during the week, along the 5-day moving average diagonal line, the center of gravity steadily moved up, Monday opened at 47900 yuan / ton, briefly tested the 47150 yuan / ton position after the recovery and around 47800 yuan / ton line sideways, Wednesday closed at 47860 yuan / ton, climbing 47940 yuan / ton, a weekly increase of 0.
38%.
At the beginning of the week, London copper opened at 5807 US dollars / ton, and since then maintained a volatile upward pattern, the highest test of 5920 US dollars / ton, Wednesday for sideways, now closed at 5908 US dollars / ton, a weekly increase of 1.
69%.
Due to the Dragon Boat Festival, there were only 3 trading days in the week, and the price change in the spot market was limited, holding steady around
180 yuan / ton.
On Monday, the Shanghai copper plate rose strongly, traders were flat on Friday and quoted a premium of 170~200 yuan / ton, while the downstream performance was afraid of heights, while traders speculated in limited demand, and the supply and demand sides saw obviously
。 Under the deadlock, some traders want to ship before the holiday to avoid risks, the quotation has been loosened, but the downstream is still purchased according to just needs, and there is no willingness to replenish a large number of goods before the holiday, so the seller took the initiative to lower the quotation, Tuesday spot quotation fell to 150 ~ 180 yuan / ton after the space for a limited decline, the monthly ticket demand supported the spot premium rose again, Wednesday because of the need to complete the monthly long order delivery before the holiday, the monthly ticket premium performance was firm, holding steady at 170 ~ 190 yuan / ton, limited changes during the week
。
