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Sino-US trade war officially started, the metal market was disappointed, market investors are generally worried that the trade war will affect the growth of global economic demand, the two markets of metals fell sharply in the morning, London copper fell to a three-month low approaching $6600, the main force of Shanghai copper fell sharply, once fell below the 50,000 mark in the morning and then rose slightly, but still hit a low of nearly eight months, the overall weakness is obvious, the current dollar index continues to be strong, copper prices return to fundamentals dominant, the current demand slowly rebounded, is expected to copper prices support insufficient, Under the pressure of the trade war, it is expected that today's copper price or continue to tug at the 50,000 mark, mainly wait-and-see in the short term
.
In terms of the market, because the current local inventory continues to decline further, today's copper price is deeply lower, holders generally hold up the price premium shipments, because the consumption recovery is expected to be obvious, most of the downstream copper manufacturers stock demand is still obvious, low-price sources are still in demand, because the source of goods continues to decrease, the current holders are obviously reluctant to sell, because copper prices are at a low level, the market quotation difference is large
.
Scrap copper market, the market supply is obviously in short supply, the current holders are more willing to sell, downstream enterprises are still insufficient to start work, market transactions are gradually recovering, downstream in the environmental protection policy continued to be high-pressure procurement on demand, but the holders are obviously reluctant to sell, the overall transaction has weakened
again.
