May 3 Copper Market Brief Review

On the last day of April, the main force of Shanghai copper jumped high at 42,780 yuan / ton in the morning, and just opened long flat into suppressing copper prices to the lowest point of the day at 42,650 yuan / ton
.
Then copper prices quickly rebounded and maintained their rally, climbing all the way to 42,900 yuan / ton
.
Near the close, bulls once again rushed up to the highest point of the day of 42980 yuan / ton, closing at 42940 yuan / ton, up 370 yuan / ton, or 0.
87%.

The GDP of the United States fell by 4.
8% in the first quarter, and the European industrial and economic prosperity index continued to fall, indicating that the current global economy is facing further downward pressure, domestic economic growth is still facing difficulties, and the contraction of demand may make the colored sector lack sustained upward momentum
.

The negative impact of the epidemic on the macroeconomy may still be fermenting, the uncertainty of crude oil prices is still high, the supply of mine resources is disrupted due to the epidemic, and the news of domestic storage and storage is also stimulating the market, the current uncertainty faced by the non-ferrous sector is still high, and the investment strategy should still be cautious
in the short term.