June 29 London Copper afternoon review

On Friday night, Panlun copper closed at 5,943 US dollars / ton, up 0.
10%, with a volume of 14,000 lots, and long positions increased by 164 lots to 292,000 lots; Shanghai copper began to close on Thursday night trading due to
the Dragon Boat Holiday.

Copper prices rose first and then fell on Friday night, and earlier in the evening, due to the intensifying epidemic situation in Chile, Codelco announced that it would suspend the crude and refining system of the Chuquicamata refinery, and the mine would implement a shift system, which caused the market to worry about the copper supply prospects, stimulating copper prices to rush in the short term, and the external market touched a high
of $6,006 / ton 。 But then the U.
S.
stock market continued to weaken after the open, and the recent trend reversed momentum, mainly because the number of new confirmed cases in the United States reached a new high, and high-frequency data showed that the rapidly growing number of infected people is affecting the economic recovery process in the United States, so the market investor sentiment was hit, dragging copper prices downward, returning to the previous operating range, oscillating
around the $5950 / ton level.

The epidemic in South America aggravated the disturbance at the mine end, and London copper closed up $6 to a five-month high the next week, domestic inventories still maintained a dematerialization trend, and the final consumer market such as automobiles has recovered, and copper is rising
today.