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Copper markets moved higher again overnight, with the Fed saying easing would continue until employment and inflation reached target, and markets continued to be encouraged
by the U.
S.
$900 billion bailout package expected by the weekend.
On the macro front, expectations of a new round of fiscal stimulus in the United States have risen, the Federal Reserve has kept monetary policy and bond purchases unchanged, the dollar index has fallen below the 90 mark, China's economic data has performed strongly, and copper prices have remained high
.
On the industrial side, the Centinella copper miners in Antofagasta will reach a wage agreement and the risk of a strike will be lifted
.
Freeport and four smelters in China finalized a copper concentrate long order TC of US$59.
5/dry tonne in 2021, a new ten-year low
.
The year-end impulse of Chinese smelters shows obvious signs, but the willingness to ship is not strong, and inventories are still at a low level
.
At present, the overall macro is more, the economy continues to improve, and copper prices may be
dominated by strong shocks.