March 7 London Copper morning review

Dan Smith, head of commodity research at Oxford Economics, said, "The market is a bit overdone with the Trump plan super optimism and the general appetite for risky assets, already in overbought territory
.
Copper prices have risen about 15 percent since Trump was elected U.
S.
president last November, and he has promised to increase spending on infrastructure, which is good for commodities
.

On the supply side, Indonesia's mining minister said late last week that he would not give up his demand for Freeport-McMoran to take a majority stake
in its Indonesian business.
The battle for rights has resulted in an export freeze
for the world's second-largest copper miner.

In addition, Chile's mining minister Aurora Williams said the Escondida copper strike has lasted for 25 days, which will drag down Chile's copper output and also reduce the country's GDP growth rate by about 1 percentage point
in February.
Chilean copper output fell 12% year-on-year in February, a large decline that has a lot to do with
the strike at the mine.

Representatives of the Cerro Verde Mine Union, one of Peru's largest copper producers, said workers planned to start a five-day strike on Friday to demand better working conditions
.
The representative, as well as the mine's managing owner, said the strike could be indefinite
.
Analysts at JP Morgan said there would be an oversupply
in the copper cathode market despite reduced supply.

Overnight London copper closed big black bar, the current low fell in the early platform position, there is strong support, today does not rule out the possibility of technical correction, the expected operating range of 5835 ~ 5900 US dollars / ton
.