Terminal manufacturing continues to pick up Macro optimism is positive for copper prices

In the external market, Apanlon copper opened at 6455 US dollars / ton, showing a strong rise
during the day.
After the opening of Shanghai copper, bulls quickly pushed copper prices up by about $68/ton, and then London copper continued to climb to $6620/ton
.
At this high short position, Lun copper briefly fell to $6565.
5/ton, but soon repaired and adjusted around the $6605/ton shock, during which the intraday high was $6632/ton
.
Bulls left the market before the end of the Asian session, and copper prices retreated
.
Entering the European session, London copper continued to pullback, giving up some of the intraday gains
.
As of 17:00, London copper closed at $6534/ton, up $105/ton, up 1.
63%.

The global market in the bullish atmosphere under the impetus of the phenomenon of a comprehensive red phenomenon, London copper rose to the high level of nearly two years, Shanghai copper volume and price rising, soaring more than 5%, an increase of more than 2,000, soaring to a high of 53,400 yuan / ton, holders to a high level of cash, although the morning market quotation to a premium of 30 yuan / ton to start, but soon there was a tide of price reduction, flat water copper took the lead to drop to a premium of about 10 yuan / ton, good copper quotation premium 20 ~ liter 30 yuan / ton, but the market is still lack of interest, few transactions; At about ten o'clock, flat water copper generally quoted flat water, good copper price adjustment premium 10 ~ liter 20 yuan / ton, but the actual transaction at a lower price, especially at the end of the afternoon market, it has been heard that some flat water copper can be pressed to a discount of 10 yuan / ton, the downstream purchase volume is scarce during the day, and the wet method is as low as 80 ~ 60 yuan / ton
.
The commodity market has soared across the board, but the spot market is far less than the strong performance of futures, holders actively exchange cash at high prices, strive to trade, buyers are afraid of heights, and the market transaction lacks buying
.
However, in the face of the approaching delivery, the price difference between the current month and the next month has changed, and the near weak and far strong pattern makes the holders unwilling to discount the transaction, if this pattern is maintained before delivery, the spot quotation will stalemate at the current quotation level, which is difficult to suppress the price and raise the water
.
In the afternoon, Shanghai copper around 53200 yuan / ton a narrow range, spot still shows a difficult price and difficult to raise the price of the trend, the inquiry is light, flat water copper can be pressed up to a discount of 5 yuan / ton, most holders still hold flat water quotation, good copper premium 10-20 yuan / ton, the transaction price hovers at 53100-53220 yuan / ton, the transaction has hardly improved
.

Shanghai copper still performed strongly during the day, mainly due to the continued macroeconomic easing coupled with favorable fundamentals, China's social financing scale in June far exceeded the previous value and forecast, and remained at a high level overall, and the continued monetary easing provided positive factors for the expected improvement of the capital market; The China Association of Automobile Manufacturers released automobile production and sales data for June, up 22.
5% and 11.
6% year-on-year, refreshing the record high of production and sales in June, indicating that the terminal manufacturing industry continues to pick up, and macro optimism is positive for copper prices
.