April 10 copper market morning review

On Thursday, Shanghai copper opened high and low, and the price gradually approached the support level after midday in a narrow range of oscillations, the main month 2005 contract of Shanghai copper opened at 40980 yuan / ton, the highest intraday 41180 yuan / ton, the lowest 40690 yuan / ton, settled 40840 yuan / ton, closed 40800 yuan / ton, up 180 yuan, or 0.
44%.

In the spot market, the willingness of holders to cash out increased, the supply was abundant, downstream consumption did not improve, and the selling sentiment rose or caused a further decline
in premium.
First Quantum's suspension of the operation of the Cobre Panama copper mine, a subsidiary of Panama, and the expansion of overseas concentrate supply disturbances may affect domestic production, and the fundamentals continue to improve marginally, but the overseas epidemic has not seen an inflection point, and copper prices are difficult to trend
upward.

The global stock market continued to rebound, and the recovery of market confidence pushed copper prices to open higher, but in the short term, the momentum of the copper market has weakened, and Shanghai copper opened high and low in the morning and fell into a narrow range around the previous breakthrough
.
At present, the economic impact of the impact of the epidemic is gradually reflected in the real economy, and there is still weak pressure on copper prices in the medium term, and it is expected that Shanghai copper will fluctuate around 40,000 in the near future
.