February 19 Copper Market Morning Review

On Tuesday, the main contract of Shanghai copper 2004 opened at 46380 yuan / ton in the morning, and fell after the opening, and the overall center of gravity fluctuated between 46250-46330 yuan / ton until the end of midday; After the afternoon open, copper prices rose upward, rushing to 46380 yuan / ton at a high level, and fell slightly at the end of the session and closed at 46270 yuan / ton, up 30 yuan / ton, or 0.
06%.

On February 18, the number of new confirmed cases of new coronary pneumonia nationwide continued to decline, and the domestic epidemic data continued to improve
.
The state supports the orderly resumption of production of enterprises, and reduces or exempts the payment
of provident funds.
US New York Fed Manufacturing Index for February: 12.
9, prior: 4.
8, expected: 5
.
U.
S.
data beat expectations overnight, while Germany said the economy was not ideal
.
The dollar rose sharply, the euro fell to a three-year low, and non-ferrous metals came under pressure
overnight.

During the day, Shanghai copper as a whole maintained a relatively high shock pattern, mainly because the current domestic epidemic situation is gradually improving, and the number of new confirmed cases in areas other than Hubei has dropped for 13 consecutive days, giving market confidence; However, because the epidemic in Wuhan has not completely stopped human-to-human transmission, and it will take time for domestic production to fully recover, the short-term impact on the economy is still large, which is a risk point
that restricts the rise of copper prices.