Copper prices began a sharp rally, rising strongly for two consecutive days

In terms of the external market, London copper opened at 6255.
5 US dollars / ton, after the opening copper price around the opening price oscillation running, then China's scrap seven types of copper ban on import news was confirmed, bull confidence was boosted, have increased positions into the market, London copper opened a straight line to pull up, the rally was temporarily suspended around 6350 US dollars / ton narrow consolidation, in the afternoon London copper continued to make efforts, the upward rush touched as high as 6400 US dollars / ton, refreshing the high level of nearly two years, and then the bulls fell into the bag for safety, reduced positions and left the market, Lun copper gave up the gains, the center of gravity fell, and entered the European session, London copper fluctuated around $6290/ton, and as of 17:10, London copper was trading at $6297/ton
.

In terms of the market, Shanghai copper continued to rise wildly
.
Copper in the morning market is still at a high level below 49,500 yuan, and the market quotation is stable in the range of 50 yuan / ton ~ 20 yuan / ton, although there is an inquiry but the price pressure space is limited, and the supply and demand stalemate is obvious
.
In the second trading session, the inner and outer copper once again opened a straight rise mode, the whole line stood on the plate 50,000 yuan, the copper market was bullish, but the spot market was cautious and stopped in the atmosphere, speculative winners expanded the discount for cash, flat water copper quotation discount of about 80 yuan / ton, good copper discount 50 yuan / ton, wet copper has expanded to more than 100 yuan / ton, but the quotation is reduced, the inquiry is reduced, and the transaction is less
.
In the afternoon session, the market was still in an upward breakthrough, speculators actively expanded the discount, the quotation exceeded the discount of 100 yuan, but the transaction was difficult to improve, and there were few
receipts.
Although the bullish trend of the market has been, spot buying, whether traders or downstream, still cannot enter the market
above 50,000 yuan.
With the increase of speculative profit orders and the gradual widening of the basis of the next month, the spot discount may be able to further expand
.

On the news front, the IMF raised its economic growth forecast for this year and 6.
4% to 6.
7% and 6.
4% respectively this year and next due to the strong performance of China's economy in the first quarter and expectations of continued fiscal support, but it is also concerned that the rapid growth of credit may expose the economy to downside risks
.
The latest Eurozone July composite PMI fell to a six-month low, and while the eurozone economy will still recover steadily in the third quarter, the pace of growth is already slowing
.

At present, the copper market is bullish, and the strong breakthrough rise for two consecutive days has greatly exceeded the original operating range, focusing on the platform operation ability
of the bulls in the future.
It is expected that copper prices will remain high and volatile today, and the main fluctuation of Shanghai copper is 47600-48100
.