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Overnight, London copper Europe and the United States strongly broke 6300 US dollars / ton, touched the 20-day moving average, some long positions at the end of the session closed the market, fell slightly, closed at 6262 US dollars / ton, up 134 US dollars / ton, the transaction increased 8466 to 22409, and the position maintained 312,000 lots
.
On the macro front, the dollar index rebounded slightly last night as the market awaited Friday's U.
S.
GDP data
.
The executive meeting of the State Council deployed to better play the role of fiscal and financial policies, support the expansion of domestic demand and adjust the structure, promote the development of the real economy, and boost the prospects
of metal demand.
Chilean Copper Council lowered its 2018 copper price forecast, affected by the trade war
.
After the Sino-US trade dispute escalated by 200 billion yuan again, considering the two-month evaluation period, the current risk appetite has entered a relative interval, US bonds have entered a shock, and metal pressure has eased
.
In terms of stocks, LME copper stocks decreased by 275 tons to 254425 tons on July 24, compared with 23,377 tons to 211319 tons from last week.
Neutral
.
From the perspective of comprehensive supply and demand, there is no major contradiction
for the time being.
Macro policy is showing signs of easing, but the trade war remains the biggest uncertainty in the market
.
In the short term, in the absence of major macro interference, copper prices are expected to stop falling and stabilize and there is demand
for rebound.
