Shanghai copper rose sharply and upward pressure remained

In the last trading day, the average price of electrolytic copper in Shanghai Nonferrous Metal Network 1# was 51135, up 755, spot premium 85, premium narrowing by 50
.
Copper stocks in the previous session rose by 1,501 tonnes to 60,439 tonnes, while LME copper stocks fell by 2,475 tonnes, the lowest level since August 2007
.

At the macro level, the speaker of the U.
S.
House of Representatives said that Democrats are willing to halve the amount of the bailout package in order to agree
with the White House and Republicans on a new round of bailout bills.
U.
S.
housing starts surged in July, with housing activity strengthening
for the third straight month.
Last night, the Nasdaq and S&P both hit record highs in the closing record, of which the S&P 500 index recovered all the lost ground
since the epidemic.
Last night, the dollar index extended its weakness and hit another low this year, which has strong support
for copper prices.

Overall, thanks to the lower US dollar index, copper prices have rebounded sharply, but the upward pressure still exists, today's Shanghai copper or strong shock, Cu2010 reference range 51600-52500, more short difference operation-based, do not chase up
.