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Market wire in Nanhai metal scraps market in the morning
2019-12-23
Dec 23 (LTIT) –With the passage of time, there are less than 10 days to go before 2019. The copper market entered the consolidation mode again after the previous sharp rise. However, the consolidation level this time rose above US$ 6,000 and remained resistant to the fall. Market confidence improved somewhat compared with the previous period. On the basis of recent news reports, in addition to the signals of preference from Sino-US trade, the data also gave a boost to the market. Although capital entered a tight year-end settlement cycle, the basic preference of copper and inventory data, which tended to decline in most cases, made capital operation stronger and did not meet the conditions for large profits. However, the slowly weakening purchasing power and the reduction of orders put short-term pressure on copper prices. It is expected that the price trend will fluctuate slightly before the year, but there is little room for drop. Attention should be paid to the news coverage and direction of the new year.
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