Shanghai copper stopped falling and rose, and the gains expanded in late trading

Externally, Middle East oil producers began to show signs of tension, the United States or "at the right time" to intervene in the oil stalemate, oil prices soared, U.
S.
oil rose nearly 24% is the largest one-day increase since the beginning of trading in 1983, driving the commodity market, overnight London copper bottomed out, the latest closing quotation of 4810 US dollars / ton, up 76 US dollars, or 1.
61%, the volume of 30411 hands decreased by 3490 lots, and the position 307278 decreased by 278 hands
.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price reported 38510 yuan / ton, Zhang 880 yuan, premium 20-liter 80; Guangdong spot 1# copper price was 38430 yuan / ton, up 890 yuan; Yangtze River spot 1# copper price 38590 yuan / ton, up 960 yuan, premium 30-liter 50; Shanghai spot 1# copper price was 38320 yuan / ton, up 765 yuan
.
Affected by the outbreak of the epidemic, some copper mine projects in Peru and Chile have suspended or slowed down construction, copper fundamentals are still tight, China may introduce stimulus measures, and the demand outlook will rise in the second half of the year, providing support
for copper prices.

The spread of the epidemic overseas has affected mining, and the suspension or slowdown of project construction of many copper mine projects in Peru has helped balance market demand to a certain extent, and the reduction in supply has provided some support; The speed of recovery in Chinese demand in the second quarter and the arrival of an inflection point in inventories may determine the rebound momentum
after copper prices overshoot.