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Today's Shanghai copper remained strong, the main month 2008 contract opened at 48950 yuan / ton, the highest intraday 49380 yuan / ton, the lowest 48770 yuan / ton, settled 49100 yuan / ton, closed 49350 yuan / ton, up 790 yuan
.
During the Asian session, London copper trend is strong, the latest quotation at 15:00 Beijing time is 6090 US dollars / ton, up 51 US dollars, or 0.
84%.
In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 49370 yuan / ton, up 420 yuan, 60-120 liters; Guangdong spot 1# copper price was reported at 49370 yuan / ton, up 390 yuan; Yangtze River spot 1# copper price 49460 yuan / ton, up 440 yuan, premium 150-liter 170; Shanghai spot 1# copper price was 49435 yuan / ton, up 525 yuan
.
In the spot market, holders actively shipped, traders stopped and watched, downstream consumption was not good, and the market was afraid of heights
.
There may be room
above copper prices with a recovery in demand from China, the world's largest copper consumer, and supply from Chile, a major copper producer, threatened by the pandemic.
In terms of news, the United States is expected to pass the next round of stimulus in July, the Federal Reserve may lower the threshold for small and medium-sized enterprise loan tools, and US policy further easing or stimulate the economy
.
The domestic Caixin PMI recorded a new high for the year, in the expansion range for two consecutive months, and the supply side was stimulated by the upside of copper prices due to the tightening expectations of the epidemic in South America
.
However, due to the fact that terminal demand has not fully recovered and downstream orders are not sufficient, it is expected that there is limited
space above copper prices.
