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Copper market morning comment: Helped by the economic recovery prospects and low inventories, the Lun copper holiday continued to pull the Yang line, the highest 8437, 2.
17 close 8413
.
During the Spring Festival holiday, the optimism of overseas financial markets was dominant, the Japanese stock market hit a 30-year high, the US stock market also continued to set new records, WTI crude oil exceeded $60, the US dollar index did not change much, and long-term US bond yields rose to a high level
.
The epidemic situation in the United States and Europe continues to improve, the vaccination progress has accelerated, and Biden's fiscal stimulus plan has progressed smoothly
.
Driven by market risk appetite, non-ferrous metals are expected to open
higher.
The first quarter is still a period of resonance of the global economic recovery, which is conducive to driving demand for non-ferrous metals, and the looser monetary environment has also played a certain role in boosting the effect
.
The implementation of the local New Year policy ensures the start of construction after the holiday, and in summary, non-ferrous metals have upward potential
after the holiday.
Overall, the market sentiment is more optimistic, the supply is slightly tight on the fundamental side, the demand is expected to be better after the holiday, and Shanghai copper continues to climb higher today or strongly, and it can be operated on the dip and short-term operation
.