SMM net news: the trend of non-ferrous metals is slightly divided in the morning, with Shanghai Copper leading a rise of more than 1%. At present, the futures price stands on the front line of 49000, which has fully recovered the huge gap created by the new crown pneumonia in the last ten days. Shanghai aluminum has risen at the top, but the futures price has not yet broken through the previous high point. Shanghai nickel continues to run weakly and the fluctuation is limited.
After the holiday, domestic goods were weighed down by fears of a rebound in the epidemic, but yesterday's official manufacturing PMI in June exceeded expectations, while Caixin's manufacturing PMI hit its highest this year in the morning, indicating the resilience of the Chinese economy and a boost to market sentiment. On the supply and demand side, copper weekly inventory in the previous period continued to decline, suggesting that downstream consumption was good, and supply-side disturbances caused by the epidemic in South America also continued to support futures prices. Copper futures performed brightly in the second quarter and recently hit five-month highs.
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