June 24 Copper Market Brief Review

This week's domestic small holiday is coming, long and short around the epidemic, economic prospects and liquidity glue game U.
S.
stocks, international commodities are about to move, in terms of trends, the current financial market ups and downs, nonferrous industry supply and demand margin weakened, the inner plate copper and aluminum once strong, but also made the import profit window close to opening again, copper represented by the absolute price of non-ferrous metals high two-way fluctuations increased, it is recommended that Shanghai copper unilaterally backed by 47000 line of short light positions to hold
.

On the macro front, European and American economic data continued to rise, expectations of a good Sino-US trade agreement also gave market support, the United States will launch a new round of stimulus in July, vaccine research and development is smooth, and the dollar has fallen sharply, all of which have supported the copper market
.

Domestic spot tightness remains the biggest supporting factor
for the market.
Domestic infrastructure projects support the cable industry, and the air conditioning and automotive industries have also begun to pick up
.
On the supply side, Peruvian production is still recovering, and it will take time
from production to transportation to the place of consumption.
Chilean mining production is still working to protect itself from the pandemic
.
Technically, the copper rally continues, with the key support being the 200-day moving average
.