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This week, the LME March copper opened high and then fluctuated at a high level, with a weekly gain of 3.
37%.
The Shanghai copper index ran in shock this week, and continued to rise to 42300 yuan at the end of the week, an increase of 1.
34%.
This week, the main trading range of spot copper in Shanghai Nonferrous Metals Trading Center (SME) was 41710-42450 yuan / ton, and the premium range was b40-b190 yuan / ton
.
This week's spot copper supply is still tight, the premium is high, the downstream consumption at the beginning of the week picked up, more bargain pick-up, as the spot copper price continues to rise, the spot high premium is difficult to sustain, middlemen are afraid of heights, and the overall supply and demand turn to a stalemate
.
A number of economic data released this week showed that the domestic economy gradually stabilized, and the sharp decline in GDP in the first quarter made the market look forward to more hedging policies in the second quarter, and this week Europe and the United States also expressed their readiness to resume normal economic operation, considering the unprecedented global stimulus policies, the non-ferrous sector panic selling ended and returned to the rebound trend
.
In addition, the increase in the interference rate at the copper end supports the current copper price
.
It is difficult to confirm whether the short-term trend has reversed, and attention should be paid to the resumption of work in Europe and the United States in the later period and domestic economic stimulus policies
.
In terms of stages, copper price fluctuations are completely based on its financial attributes, and the market has rebounded
recently due to the improvement of market sentiment, coupled with the favorable promotion of external and its own stage.
Considering that the demand impact of the epidemic on consumption has not yet been fully reflected, especially the inevitable global macroeconomic downward momentum, and the supply-side disruption is actually limited, it is not optimistic about the rebound
brought by the improvement of market sentiment.
