The copper market continues to rise and the market volatility is strong

Macro: the US dollar and crude oil are weaker
.
The U.
S.
transportation secretary said the Trump administration's $1 trillion infrastructure package could be rolled out
this summer after dealing with tax reform.
The message is neutral
.

In terms of spot: intraday Shanghai electrolytic copper spot contract discount 80 yuan / ton - discount 20 yuan / ton, flat water copper transaction price 46100 yuan / ton - 46200 yuan / ton, premium copper transaction price 46120 yuan / ton - 46240 yuan / ton
。 Shanghai copper rebounded slightly, holders at the end of the month have increased their cash exchange efforts, imported low-priced sources of goods gushed out, now copper discount quotation across the board, and gradually expanded, imported copper supply continues to impact the market, the proportion has increased significantly, mainly wet copper and low-end flat water copper, some large speculators absorb low-priced sources, downstream on-demand market, supply pressure is obvious, middlemen lead the market, transactions first rise and then suppress.

Industry: BHP Billiton cut its full-year copper production target after a hurricane swept through eastern Australia last month and a prolonged
strike at Chile's Escondida mine.
Copper production fell 20% year-on-year to 939,000 tonnes in nine months, and BHP Billiton expects copper production between 133 and 1.
36 million tonnes
this fiscal year, affected by the Escondida copper strike.
Too many
messages.

On the whole, the supervision of domestic financial institutions has gradually strengthened, and the short-term negative copper price
.
Freeport may usher in a new round of strikes in May, but the scale and sustainability of strikes remain to be watched
.
In terms of spot, the downstream enters the market on demand, the supply pressure is obvious, the middleman leads the market, and the transaction first rises and then declines
.