February 9 London Morning Review

In terms of the market, as of February 8, the spot price of London copper was $7,006 / ton, a discount of $43.
75 / ton over the March contract; The actual ratio of Shanghai copper spot to London copper spot was 7.
53 (import ratio was 7.
5), and the import profit was 252 yuan / ton; The actual ratio of the Shanghai copper 3 contract to the London copper March contract was 7.
58 (the import ratio was 7.
5), and the import profit was 578 yuan / ton
.

Global stock markets have fallen sharply, oil has also hit a new low in the year, panic index has risen, and hedging tools such as gold have risen, testing investors' psychological endurance
.
The worrying stock market cooperated with the fundamentals yesterday London copper inventories again increased by more than 20,000 tons, bears wantonly entered the market to suppress, London copper touched the Bollinger track kneeling, it is expected that the short-term trend is still weak, pay attention to the LME inventory changes
.
It is expected that today's London copper range is 6810~6880 US dollars / ton
.