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The copper market continued to surge higher last week, reaching a stimulus agreement with the United States to support
the market.
The latest news, the US Congress finally finalized a $900 billion bailout agreement on Sunday, and will vote on Monday, from the market point of view, the dollar strengthened, and the advantage was exhausted
.
Domestic economic data continued to recover, a number of macro indicators rose to this year's best, economic growth accelerated, the Central Economic Work Conference pointed out that China's will continue to loose fiscal policy and prudent currency, the Federal Reserve said it will continue the bond purchase program, easing policy continues
.
The scope of vaccine application has gradually expanded, which has improved market expectations
to a certain extent.
Domestic new energy vehicle sales are growing rapidly year-on-year, and from the perspective of the climate summit, new energy investment is expected to continue to accelerate, which may have a greater impact
on copper consumption.
However, as the end of the year is approaching, it is necessary to be wary of the risk of pullback caused by short-term suppression of demand, and copper prices are generally expected to be strongly volatile
.
In the copper market, the decline in copper stocks at home and abroad last week was still the biggest support, but the sharp rise in prices began to curb consumption, and the refined waste ratio reached more than
2,000 yuan.
Domestic exports remain good, but rising costs limit export momentum
.
Technically, copper is at the $8,000 mark, and whether it can break above this level is the focus
of this week.
