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Today's Shanghai copper is on the strong side, the current month 1706 contract opening price of 45520 yuan / ton, the highest 45970 yuan / ton, the lowest 45440 yuan / ton, settlement 45760 yuan / ton, the tail market closed up 620 yuan, reported at 45780 yuan / ton, up 1.
37%.
Investors are concerned about the Washington event, the market risk aversion is high, the attractiveness of the US dollar exchange rate has fallen sharply, and the continued weak pattern supports copper prices, and Shanghai copper is expected to be stronger
in the evening.
Abroad, the political turmoil in the United States has not dissipated, affected by the scandal, Trump's future uncertainty has increased, and investors have questioned whether Trump can promote the completion of infrastructure plans, and concerns still hang over the market
.
As of 15:00 Beijing time, London metal (LME) copper was last quoted at $5,664, down $23.
5, or 0.
41%.
Watch the US Chicago Fed National Activity Index
for April.
On the macro front, affected by Trump's leaks and improper dismissal of the FBI director, Trump fell into an impeachment crisis, and the weakening of the US dollar supported copper prices
.
In addition, the sharp rise in crude oil and the weakening of market concerns about China's economic slowdown also contributed to copper prices
.
In terms of the market, on May 22, Yangtze River spot 1# copper reported 45830 yuan / ton, up 560 yuan from the previous trading day, with a discount of 20 to 0 premiums; Guangdong spot 1# copper price was reported at 45880 yuan / ton, up 570 yuan; Huatong spot 1# copper price was 45855 yuan / ton, up 560 yuan
.
Shanghai area 1# electrolytic copper 45750 yuan / ton, up 550 yuan, flat water copper transaction 46760 up 570, liter copper transaction 45750 up 560
.
Today's copper prices are rising, traders buy on demand, holders are actively shipping, downstream is holding a wait-and-see attitude, and the market is generally trading
.
Industry information, recently, Paul Dennison, a researcher at the International Copper Association (ICA), said in a report published in "Metal Plus" that with the development of intelligent building systems, power equipment, electric vehicles and new renewable energy, the total global copper demand will increase by 4 million tons per year before 2030, and the annual demand will reach 28 million ~ 30 million tons
.
In terms of data, Germany's April PPI annual rate of 3.
4%, released on Friday, was better than expected
.
The preliminary consumer confidence index of the Eurozone for May was -3.
3
.
Today's focus is on the US Chicago Fed National Activity Index
for April.
London copper last Friday volatility higher, standing on the 5, 20-day moving average, domestic night trading high open, short-term stability rebound signs, pay attention to whether it can effectively stand on the 46000 line
.
