May 15 copper market morning review

On Thursday, Shanghai copper first rose and then declined, maintaining range volatility during the day, and the main force of Shanghai copper 2006 closed at 42910 as of the day, down 70, or 0.
16%.

Shanghai copper showed sharp fluctuations in early trading, Impact the main pressure level of 43,000 after falling, overnight the Federal Reserve vetoed negative interest rates, U.
S.
stocks in response to the downward drag copper prices fell V, but at present, Shanghai copper long and short intertwined obviously, the price still has a small support momentum, short-term fine copper explicit inventory outflow and grid copper can still support the price, the medium-term economic weak pattern is still pressure copper prices, in the near term Shanghai copper or into a wide range of shock situation, it is recommended to continue to pay attention to the trend around the main force of Shanghai copper around 43,000, the operation is mainly wait-and-see, downstream just need to stock
。

The global economy is a foregone conclusion in 2020, with the US fiscal deficit rising to a record high in April, the CPI hitting the largest month-on-month decline since 2008, and the deflationary pressure on domestic PPI further increasing, and the global economic outlook gloomy
.
However, for now, the epidemic is still continuing, the negative impact on the global economy may be slowly emerging, the effect of counter-cyclical adjustment policies is not yet certain, and considering that epidemic prevention and control is still a priority for governments, overseas demand may continue to be weak, and the shortage of scrap copper supply is expected to improve, and Shanghai copper prices are expected to face certain downward pressure
.