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The global central bank increased the intensity of loose monetary policy, the next week London copper rebounded to close up $19, many places in the country have announced new infrastructure projects, the second quarter market consumption is still expected, today's copper or limited rise and fall
.
The copper inventory in the last period climbed to a four-year high last week, showing that demand is difficult to recover in the impact of the epidemic, and production still maintains growth, but the domestic epidemic is nearing its end, many places have announced new infrastructure projects, investment will be accelerated, market consumption in the second quarter is still expected, inventory or ushered in an inflection point in April, copper prices are expected to recover from a low level but space is limited
.
Industry News:
1.
After research, it was decided that from the closing and settlement of trading on March 16, 2020 (Monday), the trading margin ratio of copper, aluminum, zinc, lead, pulp and gold futures contracts will be adjusted to 8%, and the range of the price limit will be adjusted to 6%; The trading margin ratio of silver, rebar, hot-rolled coil, wire rod and stainless steel futures contracts is adjusted to 9%, and the range of the price limit is adjusted to 7%.
Foran Mining has issued a Pre-Feasibility Study (PFS) for its wholly-owned McIlvenna Bay project, proposing the construction of an underground mine with a capacity of 3,600 tonnes per day for on-site processing and tailings storage to transport copper and zinc concentrate to an off-site smelter
.
Over the nine years of the project, an average of 89.
2 million pounds of copper and 27.
9 million pounds of zinc
were produced annually.
At a discount rate of 7.
5%, the projected net present value is C$147 million and the internal rate of return is 19.
2%.
On Sunday, the Fed cut interest rates to zero and launched a massive $700 billion QE program
.
The positive expectations of global liquidity easing have been partially reflected on Friday, and copper prices have stopped falling and rebounded
both inside and outside.
The expectation of loose liquidity worldwide, coupled with the stabilization and repair of domestic demand implied by the beginning of a decline in domestic inventories, still boosts copper prices in the short term, but the current overseas epidemic has not peaked, and the market is still worried about the outbreak of systemic risks, and the market may have limited
gains.
