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The copper market retreated on Thursday, with LME copper prices testing their original highs
.
The bipartisan consultation on the new stimulus package in the United States continues, but the timing of the rollout depends on the outcome of a consensus, and only an agreement this week can be implemented before the end of the election, the epidemic in the United States is at its peak, unemployment is still high, and market pressure is increasing
.
The US stimulus package is still under negotiation, the market has a new optimism about the introduction of a new round of stimulus before the US election, the dollar index has continued to fall, but as the US election approaches, the risk of uncertainty still exists, and the subsequent copper price continues to rise depending on whether the macro environment can meet market expectations and whether the consumer side can turn around
.
The supply side is expected to show a loose trend, and it is expected that copper prices may be difficult to continue to rise, and the overall risk is greater
.
In the copper market, global inventories continued to increase sharply last week, LME spot discount, and the three major domestic spot indicators turned bearish
.
Whether the LME can hold the previous highs on Friday will be key
.
China is blocked from falling back at the high of the range, and tends to do a pullback and stop loss
with the high of the range.
