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Market wire in Nanhai metal scraps market in the morning
2020-1-7
Jan 07 (LTIT) –The US-Iraq conflict continued to escalate and the risk aversion of funds continued. However, copper stabilized after only a slight decline on the premise that its fundamental preference for stocks was low. Copper prices in London continued to stabilize at around US$ 6,100, while copper futures in SHFE oscillated not far below 49,000. At present, less than 20 days before the lunar new year, due to the large gap between recycled copper and electric copper, some manufacturers are attracted to make up their positions. under the premise of no more supply supplement, the supply of high-quality recycled copper is still tight, and the electric copper is also offset by the advance of January settlement. Judging from the recent situation, the factory enterprises have already started the preliminary operation of recuperation at the end of the year, and some have entered the state of vacation. However, the current demand for anti-drop and monthly settlement of copper prices will stimulate some transactions. It is expected that the short-term copper price will still fluctuate within a narrow range without any more news, and attention will be paid to slow down the impact of politics in the near future.

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