Shanghai copper continues to fluctuate and rise, and the short-term trend has become stronger

On the macro level, China's top leaders met with U.
S.
Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to release positive signals to the market, and the recovery of market sentiment stimulated a rebound
in metal prices.
Copper for March on the London Metal Exchange rose 1.
42% to $6224.
0 a tonne
.

Domestically, China's January PPI was 0.
1% year-on-year, a 28-month low, January CPI rose 1.
7% year-on-year, lower than expected by 1.
9%, mainly due to the continuous decline in pork prices, currency data, China's new loans in January reached a record high of 3.
23 trillion yuan, reflecting loose monetary policy, continue to pay attention to the progress of Sino-US trade negotiations in Washington, short-term market sentiment has been repaired
to a certain extent.

Fundamentals, domestic inventories show a rebound trend, the current global total inventory remains low, the spot end premium slightly expanded, the recent attention to the operation of the consumer side
.
In terms of options, as of February 15, the trading volume of copper options was 21,748 lots, an increase of 2,212 lots
from the previous day.

In summary, short-term market sentiment has warmed up, does not rule out more favorable stimuli, the fundamentals are slightly more, technically, in view of the short-term copper price gradually touching the upper pressure area, it is not appropriate to chase higher
.
Operationally, individual customers and industrial customers of the Shanghai Copper 1904 contract are temporarily waiting and seeing
.