November 20 copper market morning review

From the perspective of macro data, China's October economic data released, industrial added value and fixed asset investment growth rate remained at the high point of the year, exceeding market expectations, the total retail sales of consumer goods accelerated growth, so that copper prices have risen
recently.
However, the rebound of the epidemic in Europe and the United States has cast a shadow over the prospects of economic repair, the domestic price index also reflects that aggregate demand is still not optimistic, whether terminal orders can continue to be strong remains to be confirmed, the political turmoil in Peru has also made the market worried about the supply side, and the short-term shock center of copper prices may rise
.

In the copper market, the domestic spot is high, and the good consumption at the end of the year is also supported
.
In terms of supply, Peru said it would care more about profit than production, and production has not returned to normal
after full resumption of production in August.
Technically, copper prices still have the potential to
challenge highs.