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[SMM Copper Morning News] commodities generally rise after the EU economic stimulus package has been reached.
Jul 22,2020 08:55CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

"[Summit Forecast] is the new high bull market in copper prices coming? Watch this big talk!

SMM, July 22nd:

Last night, Lun Copper closed at 6563 US dollars / ton, up 1.37%. The trading volume was 13000 lots, and the long positions increased by 1128 to 317000 lots. The Shanghai Copper 2009 contract closed at 52380 yuan / ton, an increase of 0.98%. The trading volume was 69000 lots, and the long positions increased by 3956 lots to 117000 lots. Although there was a certain degree of concussion in the copper price last night, the operation center kept moving up, and the longer positive line was recorded in both the inner and outer disk. Commodity prices rose as the EU agreed on an economic stimulus package, with spot silver rising more than 7 per cent at one point and oil prices rebounding to their highest level since March. In addition, the rise in risky assets such as US stocks has also led to an improvement in market sentiment, with copper prices rising on the back of optimism on the back of strong fundamentals and are still expected to have upward momentum today. On the spot side, due to the long order delivery period this week, rising water is easy to rise and difficult to fall, although the market price is rising, it is expected that the rising water will remain under the rising price sentiment of traders. It is estimated that today Lun Copper 6550 USD6600 / ton, Shanghai Copper 52400 RMB52700 / ton. It is expected that the spot water will rise to 120 yuan per ton today.

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