[SMM News] fundamentals and macro double support Shanghai copper break 50000 yuan / ton!

Published: Jul 8, 2020 21:38

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SMM7 March 8 News: this evening, Shanghai copper main contract station on the 50000 yuan / ton gate. As of press time, it was quoted at 50060 yuan / ton.

At present, the epidemic continues to spread in South America, with a total of more than 300000 confirmed cases in Chile. The Chilean National Copper Mining Workers Association released news that a large number of miners and workers in major copper mining enterprises in Chile have diagnosed new crown pneumonia, with a total of more than 3500 confirmed cases. Worries about tight copper supply in the market have fermented again, supporting copper prices to rise.

"1044 of thousands of Chilean copper miners were infected with Xinguan El Teniente copper mine.

At present, the liquidity of economic policy continues to be loose, the Federal Reserve Meester said that it will maintain a loose monetary policy and will do more to support the economic recovery, and the macroeconomic environment continues to improve to boost market risk appetite, which is good for copper prices.

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