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Today's non-ferrous metals market generally rose, as of the close of the day, international copper rose 2.
46%, Shanghai copper rose 2.
63%.
Today's Shanghai copper main 06 contract opened at 73860 yuan / ton after the center of gravity showed a stable upward trend, there was almost no pullback during the session, the morning market line broke through 74000 yuan / ton after a short sideways consolidation after rushing straight to 74500 yuan / ton, intraday to maintain a narrow finishing state, until the end of the day after two and a half o'clock again driven by the external disk again rushed higher, and finally almost closed at the highest point, closing at 74900 yuan / ton
.
On the macro front, global central banks are likely to continue to maintain their current ultra-loose monetary and fiscal policies, and the US dollar is expected to remain weak
.
On the fundamental front, the CSPT team failed to finalize the floor price of copper concentrate processing fees for the second quarter of 2021, indicating that the market may be divided on future copper concentrate supply, but it is still difficult to say that it is not generous
.
On the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand, and the next peak season destocking is likely to form a strong support for copper prices, temporarily maintain the long-term bullish judgment of copper prices, but if the destocking in the second quarter is not as expected, the rise in copper prices may be weaker
than previously expected.
