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Market wire in Nanhai metal scraps market in the morning
2019-12-26
Dec 26 (LTIT) –Although trump revealed that he would hold a ceremony with China to sign a U.S.-China trade agreement, the countdown is still a few days away. The tightening of capital liquidity and the pressure of capital risk control have eased the trend of copper prices. SHFE copper futures rallied in the middle above 49000, while the market temporarily lacked control over the market during the Christmas holidays. Judging from the current situation, as factories and enterprises enter the period of preparing for the holidays, the increase in the number of six types of approvals in the first quarter of next year will temporarily hinder the preparation mentality of factories and enterprises, fearing the impact of factors such as cost reduction and supply increase at that time, so most of them hold a wait-and-see mentality. It is expected that the copper price will continue to fluctuate within a narrow range before the year and will seek a breakthrough opportunity after the year.

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