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Market wire in Nanhai metal scraps market in the morning
2019-12-18
Dec 18(LTIT) –After digesting the good news and strong data brought by Sino-US trade relations, domestic copper futures stabilized at 49,000 yuan after the exchange, and LME copper prices continued to test 6,200-6,300 dollars after stabilizing at 6,000 dollars. Judging from this rebound, due to the fundamental preference of copper and the fact that the capital also takes a fancy to this and pushes up the copper price with good news, the big investment banks are optimistic about the price trend next year, and the market confidence has consolidated and strengthened the bullish power, which makes the bearing power appear after this rise and only a small part of the profit-making operation is now available. Judging from the current period, it is only more than 10 days before the end of 2019, and the annual closing operation is entering the final stage. Electricity consumption still has a good impetus on the premise of the lack of recycled copper. The market is also very concerned about the announcement of six types of copper imports next year and whether there is any change in the import mode. It is expected that the recent copper price trend will still be slightly stronger.

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