April 29 copper market morning review

Copper market morning comment: yesterday's copper main contract fell slightly, down 0.
86%, spot discount narrowed from yesterday, discount 420 yuan / ton
.
After the opening of trading this morning, copper prices skyrocketed
.
As of 10:17, copper prices broke through the previous two-day high again, London copper hit a new high of 9997 US dollars / ton, the main contract of Shanghai copper touched 72860 yuan / ton, and London Shanghai copper hit a new high in ten years
.

The latest European and American PMI, US employment and housing sales data all show that major economies are recovering further, and the current domestic economy is also growing
steadily.
Chile has returned to the disruption of the strike, with the Chilean Ports Union announcing the suspension of 25 port stations this Monday, with a total of 6,000 employees participating in the strike
.
In addition, the Mining Committee of Chile's Congress approved a bill
to charge higher tariffs when copper prices are high.
Macro fundamentals and supply-side benefits may continue to stimulate copper prices higher, but weak consumption may limit the upside of
copper prices.

In the early hours of Thursday Beijing time, financial markets ushered in the Fed's interest rate decision, and the Fed kept interest rates unchanged in line with market expectations, while further strengthening its accommodative dovish stance and easing financial markets' concerns
about monetary policy and liquidity inflection points under the future overseas economic recovery.
With the advent of the May Day holiday, after copper-led commodities broke new highs in the short term, bulls had profit-taking demand to digest the gains, and after the May Festival, they continued to emphasize not to overestimate lightly, and still operate with a volatile idea
.