Consumption gradually recovers Copper prices are expected to show a volatile upward trend in the later period

In terms of the market, Shanghai spot copper quotations are 51900-52070 yuan / ton, up 145 yuan / ton, discount 110 yuan / ton - discount 50 yuan / ton
.
Intraday spot copper discount narrowed significantly, holders of quotations remained firm, not eager to exchange cash, traders continued to enter the market to absorb low-priced sources, the overall market transaction is acceptable
.

In terms of news, a number of large copper mining companies are facing the risk of salary negotiations and strikes, the growth rate of global copper mine supply has entered a downward cycle, copper inventories and holdings continue to fall, and the rapid development of new energy vehicles have supported copper prices to a certain extent
.
The European Union will respond to US President Trump's tariff move, the global trade war has not subsided, the market risk aversion has heated up again, copper prices are restricted to the upside today, and the US ADP employment data and trade balance
for February are concerned in the evening.

After the year, some manufacturers have not yet started work, and the downstream procurement situation is poor
.
And this week's release of February PMI data fell short of expectations, raising investors' concerns about
the trend of China's economy.
Shanghai copper once fell below 52,000, but from a technical point of view, below 52,000 is a strong support area, and there are more
bids.
It is expected that in March, in the environment of the two sessions in China, copper prices will not fluctuate too much, and as the downstream continues to start and consumption picks up, copper prices are expected to show a volatile upward situation
.

Industry News:

1.
The General Administration of Customs launched the "Blue Sky 2018" operation to specifically combat the smuggling
of "foreign garbage".
It was learned from the website of the General Administration of Customs that from March to December, the national customs organization carried out a special operation
to combat the smuggling of "foreign garbage" and "Blue Sky 2018".
In this operation, the General Administration of Customs will focus on cracking down on illegal activities
such as false declarations and concealment of product names, concealment, and concealment, as well as the smuggling and smuggling of "foreign garbage" through non-customs places at sea and land borders.

2.
Peru has increased mining spending, planning to increase copper mine production
by 30% by 2021.
Peru is gradually revising its plans for investment and production in mining
.
Angela Grossheim, Minister of New Energy and Mines, said that in the face of political turmoil in the country, Peruvian mining is still very adaptable
.