December 7 Copper Market Brief Review

On Friday, the main contract of Shanghai copper 2001 opened at 47250 yuan / ton in the morning, and the center of gravity moved up to 47300 yuan / ton above the daily moving average after a short period of stability, and the center of gravity fell slightly to around 47280 yuan / ton near midday after a short period of stability, and opened in the afternoon to test the low of 47250 yuan / ton, and then quickly pulled back to the high level of 47300 yuan / ton and maintained stability until the end of the day, closing at 47320 yuan / ton, up 160 yuan / ton, or 0.
34%.

An accident at the plant of Europe's largest copper smelter Augustis in Oren, Belgium, has disrupted the production of cathode copper and is expected to resume operations by the end of the year; Domestic consumption recovery expectations have strengthened, there are good expectations for post-cycle consumption in real estate in the terminal, and there is support at the bottom of copper prices in the case of continued low global explicit inventories, and spot copper prices are expected to rise
slightly.

The center of gravity of Shanghai copper moved slightly upward during the day, mainly because the domestic central bank renewed the MLF operation of 300 billion yuan today, and the operating interest rate remained at 3.
25%, reflecting the central bank's determination to continue to implement a prudent monetary policy in the process of counter-cyclical adjustment, maintain reasonable liquidity, and the market atmosphere was biased towards a positive trend, and the center of gravity of Shanghai copper was also slightly boosted
.
Shanghai copper closed positive during the day, KDJ indicator golden cross is favorable, technical performance is favorable, while the US heavy non-farm data and OPEC production reduction decision in the evening are about to be announced, testing whether it can continue to stand firm and rush up 47400 yuan / ton
.