The boost to market confidence provided momentum for copper prices

In the external market, Apanlon copper opened at 5980 US dollars / ton, the lowest point of the day at the open
.
Shanghai copper opened, the center of gravity of London copper rose all the way up to 6,000 US dollars / ton, and then adjusted around 6,005 US dollars / ton
.
In the afternoon session, the dollar rushed, bears increased their positions, London copper gave up gains, fell back to 5986.
5 US dollars / ton, but quickly returned to rise
.
Entering the European session, London copper relying on the daily moving average, based on 6,000 US dollars / ton, accelerated upward, climbed 6028 US dollars / ton, as of 17:30, London copper closed at 6018 US dollars / ton, up 50 US dollars / ton, or 0.
83%.

Copper rose during the day, mainly due to the intensification of supply chain concerns amid the disruption of the epidemic, which continued to boost copper prices
.
And the economic stimulus policies of European countries continue to increase, and the market risk appetite has rebounded, pushing copper prices up
.

In terms of the market, the spot price of Shanghai electrolytic copper for the month was reported at 130 yuan / ton ~ 160 yuan / ton, the trading price of flat water copper was 48840 yuan / ton ~ 48970 yuan / ton, and the trading price of copper was 48850 yuan / ton ~ 48980 yuan / ton
。 Long performance strong to promote copper prices continue to climb, intraday Shanghai copper again rose above 48800 yuan / ton, morning market quotation premium 150 ~ premium 170 yuan / ton, the market cautious wait-and-see mainly, the last day at the end of the month, most of the downstream waiting for the month after entering the market makes the transaction difficult, superimposed on the increase in imported copper sources, the willingness of holders to exchange cash is strong, the willingness to receive goods is weak to make the premium fall rapidly, flat water copper quotation premium 130 ~ premium 140 yuan / ton, good copper down to 140 ~ premium 150 yuan / ton; The wet quotation was subsequently lowered, and the quotation was lowered from 100 yuan/ton to around
70 yuan/ton.
Copper prices continued to rebound, making downstream fear of high to maintain rigid demand, traders bought less, and the characteristics of the end of the month were obvious
.
In the afternoon, the market first fell and then rose, straight to 49,000 yuan / ton, and closed at the highest level, due to the mid-year settlement and closing, the afternoon trading was lighter, the quotation continued to fall slightly, flat water copper premium 120-130 yuan / ton, good copper 130-140 yuan / ton, the transaction price rose to 48870-49000 yuan / ton
.

In the morning, the National Bureau of Statistics released China's June PMI index
.
The official manufacturing PMI index recorded 50.
9% in June, up 0.
3 percentage points from the previous value, and the composite PMI output index was 54.
2%, up 0.
8 percentage points
from the previous month.
The manufacturing PMI index hit a new high in March, indicating a steady recovery in the manufacturing industry, continued recovery at both ends of supply and demand, and the market expects copper demand to further strengthen, boosting market confidence and providing momentum for copper prices
.
Shanghai copper closed positive during the day, copper prices jumped away from the lower moving average, KDJ opening continued to expand, technical bullish copper prices
.
At present, Shanghai copper has returned to the pre-Spring Festival level, and the short-term target is directly at the 49,000 yuan / ton mark
.