kakaducasinonodepositbonus| Shanghai Copper-Against the background of the old-for-new policy to encourage consumption, terminal expectations are warmer

Copper's main contract shock strengthened, with an increase of 1.Kakaducasinonodepositbonus.97% closed, positions decreased, domestic spot prices rose, spot discounts, and bases strengthened. Internationally, Federal Reserve Vice Chairman Jefferson pointed out that inflation is falling.KakaducasinonodepositbonusThe momentum has waned and it is appropriate to maintain policy interest rates in the tightening range. Yields on 10-year Treasuries fell first and then rose, closing at 4.493%. The yield on the two-year bond, which is most sensitive to the fed's policy rate, closed at 4.876%. On the domestic side, the Ministry of Finance will issue 30-year, 20-year and 50-year ultra-long-term special treasury bonds on May 17, May 24 and June 14, respectively; the first issue of 40 billion yuan 30-year special treasury bonds will be invited for tender on Friday. Fundamentals, the domestic copper concentrate port inventory fell slightly, copper concentrate quotations have been adjusted, the early mine-side rapid upward trend slightly cooled down. On the supply side, the overhaul of the smelter in April brought about a partial reduction in production, but due to the widening price gap between fine waste and copper, the performance-to-price ratio of scrap copper was revealed, resulting in only a slight decline in output. On the demand side, spot prices have been revised back, in the context of the trade-in policy to encourage consumption, terminal expectations are warmer, and the falling spot prices are also conducive to the pick-up sentiment downstream. Technically, 60 minutes MACD, the double line is above the 0 axis, and the red column converges slightly. Operation suggestion, light position concussion more trading, pay attention to control rhythm and trading risk.

Researcher: Cai Yuehui

Futures qualification number: F0251444

Futures investment consulting certificate number: 20013101

Assistant researcher: Li Qiurong

Futures qualification number: F03101823

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