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Market wire in Nanhai metal scraps market in the morning
2019-12-24
Dec 24 (LTIT) –At the end of the year, the domestic government continued to release favorable policies to stimulate the economy. Li Keqiang made a heavy statement that he would further study the downward adjustment and targeted downward adjustment, refinancing and rediscount. These operations, which are conducive to increasing the liquidity of the market, stimulated the copper market to rebound after a slight decline. SHFE copper futures continued to fluctuate around 49,000 yuan, while LME copper was at 6,100 us dollars. Apart from the impact of news, the market is most concerned about the import volume of six categories in China. The import volume of the first batch in 2020 will obviously increase, indicating that the supply of recycled copper in the market will increase after the beginning of the year. However, there is not much stimulation for the trading volume affected by the current partial shutdown, and the market also expects the supply to increase the import cost and price trend next year. It is expected that the copper price will still fluctuate within a narrow range in the near future.

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