Shanghai copper afternoon review on December 23

Shanghai copper rose sharply this week, spot copper rose more than 1,000 yuan, domestic macroeconomic stability, Sino-US trade friction eased, etc.
, the annual copper price center of gravity has basically become a foregone
conclusion.
The economic growth rate of the United States in the third quarter improved, the dollar index rose to a more than two-week high, and the next week London copper came under pressure to weaken, the latest closing quotation of 6175 US dollars / ton, down 43 US dollars, or 0.
69%, the volume of 10048 lots increased by 563 lots, and the position of 314730 hands decreased by 8370 lots
.

As of last Friday, the domestic copper inventory rose to 129069 tons for the second consecutive week, and the copper inventory in the Shanghai Free Trade Zone increased by 01,000 tons to 242,000 tons; the supply of fundamental raw materials is still tight, the consumer side may still be in a weak recovery stage, copper prices may need to wait for further confirmation of demand to determine the future trend, copper prices may have a correction in the short term, and spot copper prices are expected to fall
today.

It is worth noting that this week's London copper, Shanghai copper explicit inventory continued to shrink, with the news to stimulate copper prices to rise rapidly, but Shanghai copper is subject to trade negotiations favorable RMB appreciation, offset part of the gains, and in the medium term, the economy stabilized copper prices center of gravity upward, short-term prices blocked shock, with good news out of the bull momentum or will weaken, it is expected that next week or there will be a high pullback trend, the shock after finishing continues to be strong
.