The epidemic continues and the copper market is running in shocks

In terms of the market, in the last trading day, the average price of electrolytic copper in Shanghai Nonferrous Metal Network 1# was 41770, down 65, and the spot premium was 180, and the premium expanded by 70
.
The inventory of copper warehouse receipts in the previous trading day decreased by 3,514 tons, extending the downward trend; LME copper stocks decreased by 400 tonnes
.

In terms of news, according to the latest data from Johns Hopkins University in the United States, as of 2 o'clock on April 17, Beijing time, more than 2.
1 million cases of new coronary pneumonia have been confirmed worldwide, including more than 650,000
confirmed cases in the United States.
Japan declared a national state of emergency until May 6
.
In the United States, the number of initial jobless claims in the week to April 11 was 5.
245 million, compared with an expected 5 million, and the number of initial jobless claims in the past four weeks has accumulated about 22 million
.
Trump said he was working on an infrastructure package, potentially worth $2 trillion, and disclosed plans to
restart the economy.
Last night, the three major US stock indexes closed up
collectively.
OPEC+ reached a deal to cut production, but insufficient demand still weighed on oil prices, which are expected to fall by 6.
9 million b/d
this year.
Today, China's first-quarter GDP and other data
will be released.

Overall, copper after a round of rebound has partially reflected the domestic resumption of work and tightening of the supply side, the epidemic is still continuing, the global economic recovery prospects are not optimistic, with the rebound of U.
S.
stocks and oil prices, risk appetite sentiment has recovered, today Shanghai copper or strong operation
.