July 9 Shanghai copper noon review

Last night, the Shanghai copper 2008 contract closed at 50,180 yuan / ton, up 1.
05%, with a volume of 54,000 lots, and long positions increased by 1,133 lots to 119,000 lots
.
Last night, London copper began to rise in front of the US market, quickly breaking the 6200 mark, while Shanghai copper also went higher after the open, breaking through the 50,000 mark, because the profit market understood that copper prices fell in the short term, but the bulls dominated and then continued to rush.

Last night's rise in copper prices was mainly due to the market's concerns about the stability of Chilean copper supply, and the current statistics on the number of infected people in Chilean copper mines have exceeded 5,000, covering more than 60% of the annual production capacity, and copper prices continue to rise
supported by favorable supply.
On the macro front, expectations of policy easing continued to drive U.
S.
stocks up, and domestic A-shares also moved strongly, risk aversion fell back and the dollar fell to a two-week low, resonating
with the positive copper market.

In terms of spot, due to the small arrival of imported copper this week, even if the market rises when the supply is small, the sentiment of holders is not reduced, and it is expected that today's spot premium will remain stable
.
It is expected that today's London copper 6210-6270 US dollars / ton, Shanghai copper 49900-50300 yuan / ton
.
It is expected that today's spot premium will be 30-50 yuan / ton
.