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copper prices continued to rise slightly at the opening on Monday
2020-4-20

After a continuous rebound after last week's delivery, copper prices continued to rise slightly at the opening on Monday. Although the rise in U.S. index and epidemic pressure had some impact on copper prices, the drop in oil prices below the 17 mark to the lowest level in 2001 had psychological pressure on the capital market, but had little impact on the entire copper market for the time being. At present, the U.S. announced to consider resuming work time and other operations under the expanding epidemic situation has certain psychological support for the market, while the resumption of work and production in China has certain positive effects on demand. Although the domestic recycled copper will continue to suffer from shortages and short-term replenishment difficulties after the new approval is issued, and the high premium will correspondingly stimulate the consumption power of electric copper and increase the premium rate, all of which are favorable for the domestic copper price in the short term. However, it is important to note that the rebound space of copper exceeds 60% of the decline, and there will be some pressure for profit if there is no more sustained good news.

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