May 10 copper market noon review

U.
S.
non-farm payrolls rose by 266,000 in April versus 100 expected and 91.
6
previously.
Meanwhile, the unemployment rate unexpectedly rose to 6.
1% from 6.
0% versus 5.
8%
expected.
US wholesale sales in March were 4.
6% m/m vs -0.
80% prior, 1%
expected.
European manufacturing data was largely in line with expectations, but U.
S.
employment data on Friday fell sharply short of expectations, and the market expected further easing in the United States, and the market was optimistic, and non-ferrous metal highs continued to rise
.

Chile's House of Representatives approved a progressive tax rate on copper sales, which could become one of the world's most heavily taxed mining countries, potentially discouraging investment and pushing up prices
.
General Administration of Customs: China's imports of copper ore and its concentrate from January to April increased by 4.
4% year-on-year to 7.
551 million tons
.
China's refined copper output in January-February was 1.
63 million tons, up 12.
3%
year-on-year.
On Friday, London copper rose nearly 3% to close Changyang at a new high of $10,440 and opened slightly higher to $10,480 today
.
Shanghai copper opened high and rose sharply overnight, closing at a new high of 75780 in Zhongyang, closing at 75720
.
Shanghai copper trading stable position slightly declined, market sentiment is optimistic, short-term continuation of strong, medium-term is expected to continue to shock upward, upper pressure 77000, lower support 70000
.
Today, the premium of international copper compared with Shanghai copper expanded to 673 yuan
.