Shanghai copper closed down at a high level affected by capital and market confidence

Macro news, according to several people familiar with the matter, the Trump administration will reimpose tariffs on some Canadian aluminum imports, just weeks after the North American trade agreement came into effect, Canada, an important trading partner, was hit
.
Trump will announce as early as Thursday the removal of Canada's 10 percent tariff exemption
on unprocessed pure aluminum, the people said.
More than a month ago, U.
S.
Trade Representative Robert Lighthizer expressed concern about the recent woes of U.
S.
aluminum producers, saying a "surge" in metal flows from Canada to the U.
S.
had hurt
them.

Chile's state-run mining company Codelco, the world's largest copper producer, said Thursday it would restart projects
suspended due to the coronavirus starting next week.
Workers will soon return to the new underground section of its sprawling Chuquicamata mine, the company said in a statement, and said the company's smelters and refineries would restart
soon after the worst of the outbreak.
The company also delayed new work at its century-old El Teniente mine, but said the project would restart
soon.

Chile's copper production was less affected by the epidemic, increasing by 2.
6% year-on-year in the first half of the year, and according to recent government news, the smelters suspended due to the epidemic will be gradually restored, copper concentrate disturbance is further reduced, and copper price momentum may decline.

At present, Shanghai copper is still affected by capital and market confidence, short-term attention to the range fluctuation around 5.
1-52,000, beware of expanding the amplitude to touch the support level under the long-term poor adjustment, the strong support below around 50,000, the annual space temporarily around 54,000
.