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Today's Shanghai copper volatility higher, late trading retreated, converged gains
.
At the end of the day, the main 2102 contract of Shanghai copper closed at 58160, up 190, or 0.
33%.
On the fundamental side, the CSPT team finalized the copper concentrate processing fee floor price for the first quarter of 2021 at $53/mt and $5.
3/lb, down $5 and 0.
5 cents from Q4 2020, and future supply is still difficult to say loose
.
On the demand side, as the most important demand country, China is currently the most effective country in controlling the new crown epidemic
.
Therefore, it is expected that the probability of sustained recovery of domestic economic activity in 2021 is relatively high
.
In addition, the country's 14th Five-Year Plan attaches importance to the new energy sector, and will continue to support the demand for copper varieties
.
Inventories rose by 11,530 tonnes last week, but global copper inventories remain low and fundamentals are strong
.
In addition, the domestic new energy vehicle sales data is eye-catching, and there may be greater momentum for copper consumption in the later period, and copper prices will remain strong in the medium and long term
.
It is expected that Shanghai copper may have an upward performance at night, focusing on the pressure level of 58,600, and it is recommended to pay attention to the PMI value
of European and American countries at night.
In operation, it is recommended that the operation of the loader fast forward and fast out, downstream appropriate stocking
.
