Non-ferrous sectors soared, copper prices continued their rally

In the external market, the Asian market opened higher than $4941 / ton in the morning, as the global recession stimulus measures brought about by the epidemic continued, and the market worries caused by the release of the US non-farm payrolls data on Friday were eased, and copper prices rebounded
.
In addition, the epidemic in South America has a greater impact on the supply side, Chile and Peru copper mines and electro-copper shipments are more difficult, and Mexico declared a state of emergency last week, which has strong support
below copper prices.
Therefore, after testing the low of $4,937 / ton in the morning, copper prices rose in a straight line, and the overall center of gravity rose to the $5,010 / ton above the $5,000 mark, and the Asian market remained volatile
.
Entering the European market, copper prices rose again, touching 5110 US dollars / ton, as of 18:00, London copper prices 5086.
5 US dollars / ton, up 177 US dollars / ton, or 3.
61%.

In terms of the market, the Shanghai copper gap broke through the 40,000 yuan / ton line, the copper rose by more than 1,000 yuan, the spot market also maintained a firm upward quotation, the morning market holder quotation premium 150 ~ premium 160 yuan / ton, the current total rise market acceptance is low, fear of heights is strong, good copper in the premium 160 yuan / ton after a short struggle will fall at the premium 140 ~ 150 yuan / ton, flat water copper adjusted to 130 yuan / ton, the transaction is better than good copper; Copper rose sharply, and the downstream waited and watched, and wet copper remained stable at 80 ~ 100 yuan / ton
.

Copper rebounded sharply coupled with high rise underwater buying hesitation, traders still tend to receive goods at a low price, but holders generally do not have a significant willingness to reduce prices and promotions, sellers remain strong and difficult to have room for price reduction, on the first day after the holiday, supply and demand continue to tug into war
。 In the afternoon, Shanghai copper continued to rise in the rhythm, the plate rushed to 40800 yuan / ton line, the center of gravity rose significantly, the holder's quotation remained firm, still maintained the situation that it is difficult to have room for price reduction, traders are limited to inquiry, few people who enter the market to place orders, flat water copper remains stable at 130-140 yuan / ton, good copper stalemate at 140 yuan / ton, difficult to go up and down, the transaction price increased to 40850-40950 yuan / ton
.

The rise in Shanghai copper prices during the day was mainly due to the slowdown in the growth rate of new confirmed cases and deaths of new coronary pneumonia in many countries or regions around the world after the weekend, and the epidemic seemed to have turned around, and the market panic subsided
.
As a result, European and American stock markets rebounded sharply, affecting the non-ferrous sector
.
Last Friday, China's central bank decided to reduce the RRR for small and medium-sized banks and unexpectedly cut the excess deposit reserve ratio, intending to release more liquidity to the banking system to support the recovery and development
of the real economy.
Confidence in the domestic market was greatly boosted, coupled with a slight rise in international oil prices and interference in copper mine supply, copper prices were further pushed up
.

Shanghai copper extended its rally during the day, the MACD red column further strengthened, and has crossed the 20-day moving average, technically there is upward momentum
.
However, we cannot ignore the sudden risks and long-term hidden dangers caused by the loose liquidity of various countries, and it is worth looking forward to
whether Shanghai copper can break through the 41,000 yuan / ton mark.