The non-ferrous metals market as a whole is red, and the center of gravity of Shanghai copper remains stable

Externally, the Asian market opened at $5579 / ton in the morning, and after bottoming out at $5577 / ton in the morning, as the Fed's dovish speech at the end of last weekend stimulated the market to increase its chips on the Fed will further cut interest rates, the dollar has recently poured back nearly a month of gains, the commodity market has been boosted by a collective recovery, London copper fluctuated all the way up in the morning to around
$5680 / ton.
Then entered the European market, copper prices rose again at the beginning of the session, reaching a high of $5733.
5 in the short term, but then it has been subject to the $5700 mark
.
As of 17:00, London copper was 5688 US dollars / ton, up 105 US dollars / ton, or 1.
89%.

In terms of the market, Shanghai copper opened low and high all the way up, the contract returned to around 45,000 yuan / ton, the first trading day of March, corporate financial pressure eased, while the morning market was still below 44,750 yuan / ton, boosting market consumption, so traders have significantly raised quotations
compared with last week 。 The morning market inquiry activity is high, the quotation discount is 120 ~ discount 80 yuan / ton, flat water copper favor is slightly better than good copper, low-priced flat water copper is quickly collected, after flat water copper is stable around 110 yuan / ton, good copper quotation maintains stability at the discount 90 yuan / ton line, good copper buying is not as good as flat water copper; Wet copper is significantly narrower than last Friday, and the quotation is about
180 yuan / ton around the discount.

Copper futures are still at a low level, the market is full of expectations for the restart of consumption in March, holders have performed well, downstream bargain buying has increased, traders have finally got rid of the stalemate since last week, activity has increased significantly, and overall trading has improved
significantly 。 In the afternoon, the market continued to rise, rising nearly 100 yuan from the morning, the contract of the month was blocked by 45100 yuan / ton, the buying interest in the spot copper price close to 45000 yuan / ton after the morning was significantly suppressed, the holder's quotation slightly relaxed than the morning, especially good copper, the inquiry atmosphere and buying interest decreased significantly, the quotation flat water copper discount 120-110 yuan / ton, good copper discount 110-100 yuan / ton, the transaction price followed the plate up to 44920-44990 yuan / ton
.

Shanghai copper opened high during the day, and continued to rise at the open, and the non-ferrous metal market as a whole during the day was red, mainly because last week due to the continuous spread of the global epidemic, excessive panic in the capital market, this week's panic catharsis temporarily ended, the market returned to rationality, while the overall performance of domestic epidemic control is better, domestic enterprises have increased significantly, superimposed by the central bank's vigorous infrastructure investment, market confidence has been boosted, supporting copper prices to return to above the 45,000 yuan / ton mark, but still need to be vigilant that panic catharsis does not mean that the risk is weakened, In fact, the spread trend of the epidemic abroad is still expanding, and the peak is unpredictable, and the risk is still high, testing whether Shanghai copper can continue to hold the high level
around 45200 yuan / ton.