July 14 Copper Market Brief Review

Today's Shanghai copper high pullback, the front-month contract is close to delivery, the price fell sharply, the end of the day closed Shanghai copper main 2008 contract closed at 52210, down 150, or 0.
29%.

It is worth noting that the Shanghai copper front-month contract 2007 contract closed at 52130, down 780, or 1.
47%.

Today's Shanghai copper morning high pullback is dominant, of which the near-month contract fell significantly, combined with the current market situation or for the near delivery of long positions caused, the price of the far month copper contract is generally firm
.

At present, the Chilean copper concentrate strike disturbance has intensified, and the two copper mines under Antofagas have stopped production by strike, but the outbreak of the epidemic in Chile has slowed down, the short-term and medium-term price outlook has diverged, and the short-term tight supply side may still support copper prices
.
On the other hand, due to domestic macro factors and economic influences, the current stock market heat has increased, driving market confidence, and the possibility of copper prices being strong still exists
.

Shanghai copper mainly focused on the support around 52,000, the price center of gravity remained high, there was no deeper pullback for the time being, and the intraday high adjustment was the mainstay
.
If the downstream is insufficient in the previous stage, you can pay attention to the recent short pullback to properly stock up and disperse the purchase price
.
It is worth noting that this round of stocking is mainly for short-term use, and long-term large-scale stocking needs to wait and see
.
Downstream merchants are mainly wait-and-see and can properly ship to maintain capital liquidity
.