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Last week, the main 1811 contract of Shanghai copper slowly climbed the 50,000 yuan / ton mark, up 300 yuan / ton, or 0.
61%.
The price difference between the current month and the next month widened to more than
300 yuan / ton.
The market is more optimistic about Sino-US negotiations, copper prices soared last Friday night, the dollar rushed back down overnight, and copper prices fell
slightly.
Driven by Friday's sharp rise in the external market, Shanghai copper is expected to open more than 1% higher today, to around 50500, short-term market sentiment is high, copper prices may continue to be strong
.
In terms of the industry, after the recent price increase, there has been no significant correction in prices, downstream enterprises have not replenished inventory in time, and the demand for stocking is still strong; In addition, the stock market rally ignited a bullish atmosphere, and China's multi-measure stimulus policies will support copper prices
.
With the arrival of gold, silver and ten, the continuous decline in inventories in the three places and the strong performance on the consumer side gave strong support
to copper prices.
Copper prices remain volatile and more thoughtful
.
Due to the tight spot end, copper prices may remain high before the National Day
.
However, the current futures price is near and far weak, the upside is limited, and it may face pullback pressure
after the holiday.
A new round of Sino-US trade talks is about to begin, and the future market is closely watching the negotiation process
.
Upper pressure 51000, lower support 50000
.
