February 13 London Copper morning review

In terms of the market, as of February 12, the spot price of London copper was 6755 US dollars / ton, which was 43.
25 US dollars / ton discount to the March contract; The actual ratio of Shanghai copper spot to London copper spot was 7.
52 (import ratio was 7.
5), and the import profit was 119 yuan / ton; The actual ratio of Shanghai copper 3 contract to London copper March contract was 7.
58 (import ratio was 7.
5), and the import profit was 538 yuan / ton
.

Last week, under the influence of the global stock market crash, market panic spread, the dollar index returned to the 90 mark, and near the Spring Festival, copper downstream consumption was weak, inventory accumulation was obvious, LME copper stocks increased by more than 30,000 tons in a week, dragging copper prices to the lowest
level since December 。 However, U.
S.
bond yields are gradually lower, the momentum of the further upward movement of the dollar weakened, copper bears before the Spring Festival or choose to profit out of the market, to resume work after the holiday to revive demand, coupled with Trump's infrastructure plan, copper prices may rebound, but during the Spring Festival, the panic in the peripheral market still needs to be further subsided, and the possibility of a sharp rise in London copper is also small, so it is recommended that Shanghai copper new orders before the Spring Festival wait and see, and wait for the guidance of London copper after the festival before entering
.