July 22 copper market morning review

The copper market continued to rise slightly on Tuesday, with a sharp drop in the dollar supporting
the market.
The EU through the Eurozone Recovery Fund, markets await the next round of stimulus in the United States
.
In the evening, international non-ferrous metals rose collectively, London copper futures closed at 6563 US dollars / ton, up 1.
37%, domestic nonferrous futures rose overnight, Shanghai copper futures 2009 contract reported R 51380 yuan / ton, up 1.
00%.

The copper market is still strong outside and weak inside, LME stocks continue to fall by more than 4,000 tons, warehouse receipts are still increasing, protesters attacked Las Bambas transport convoys in Peru, and concerns about overseas mine production remain.

The dollar index is close to the March position, and copper prices are resolving previous highs, waiting for clarity
.

Vale, BHP Billiton's production in the second quarter fell sharply, to a certain extent, triggered the market's concerns about supply, oil prices also have a certain supporting effect on copper prices, but from the current situation, the supply side supply outlook is still relatively stable, and the domestic market is also showing a seasonal slowdown, and overseas financial markets have shown a certain degree of overbought copper, it is expected that the subsequent copper prices above the pressure is greater, there is a greater possibility
of decline.