Shanghai copper rushed back down, and the market transaction stalemate tug-of-war

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 51950 yuan / ton, up 270 yuan, 10-70 liters; Guangdong spot 1# copper price was 51900 yuan / ton, up 270 yuan; Yangtze River spot 1# copper price 52030 yuan / ton, up 250 yuan, premium 110-liter 130; Shanghai spot 1# copper price was 51990 yuan / ton, up 270 yuan
.

In the spot market, holders continue to hold prices, downstream just demand is the mainstay, traders receive goods cautiously, and the transaction is
deadlocked.
The management of the Centinela copper mine in Antofagasta, Chile, accepted a new contract, which lifted the risk of strikes, continued weakening supply-side support, and a lack of upward momentum in copper prices
.

The sharp fall in the dollar is the biggest news
in the market.
The US epidemic is in the second wave, and the US is about to launch a new round of stimulus policies, which is expected to support the US dollar to continue easing policy
.
In addition, the European PMI returned above 50, and expectations of economic recovery also supported the downward movement of the dollar
.
Internationally, commodities are priced in dollars, and a lower dollar supports the copper market
.

In terms of news, after the mediation of the Chilean government, Zaldivar copper miners have reached an agreement with the investor Antofagasta to lift the risk of strike, but there are still concerns about supply in major producing countries such as Chile under the epidemic; The actual investment amount of the power grid in the first half of the year in China is only about a quarter completed, so there is a possibility of rushing the construction of the power grid in the second half of the year, and the spot copper price is expected to rise
.