1、 Trend analysis
As shown in the figure above, copper prices fell slightly on the 6th, with the spot price of 72856.67 yuan / ton, down 1.24% from the previous day, up 5.5% from the beginning of the year and up 0.06% year-on-year.
U.S. stocks fell sharply, market risk appetite cooled, and Lun copper closed down 0.53% overnight. Weak global economic data dragged down metal demand, and the epidemic shrouded the top, suppressing the market bulls’ motivation to enter. Weak global economic data dragged down metal demand. Among them, the industrial data of Germany, the largest economy in Europe, fell more than expected, and the manufacturing activity of China, the world’s largest metal consumer, shrank in April, while the manufacturing activity of the United States, the world’s largest economy, also slowed in April, casting a shadow on the prospect of basic metal demand, adding that the domestic epidemic is still spreading continuously, And continue to envelop the market, suppress the market bulls’ motivation to enter, and the epidemic has a significant impact on the economy. Copper prices are expected to be weak in the short term.
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