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On the second trading day after the holiday, the non-ferrous metals market was red across the board today, and the main contract of Shanghai copper 2104 closed up at 64320 yuan / ton today, an increase of 2.
53%.
U.
S.
initial jobless claims reached a four-week high last week as the pace of the job market picked up showing signs of slowing, and Treasury Secretary Janet Yellen reiterated that the economy needed a $1.
9 trillion bailout package
.
On the other hand, the global growth rate of new coronavirus cases fell to the lowest since October, the control of the epidemic has led investors to optimistic about the prospects of economic recovery, and the continued low dollar index has helped copper prices remain high
.
Overall, after the market's concerns about macro factors ease, it will provide a loose and moderate environment in the future, which will help copper prices continue to recover; Secondly, the current inventory at home and abroad is at a low level, especially in the accumulation cycle before and after the Spring Festival, China has not accumulated a large amount of inventory; This year, most provinces and municipalities in China have advocated celebrating the New Year in place, which will lead to the early arrival of domestic downstream peak season consumption, and copper prices will remain bullish after the holiday
.
