Brief review of the copper market on August 12

Today, Shanghai copper opened low again, closing the Shanghai copper main 2009 contract closed at 4987, down 880, or 1.
73%.

In terms of spot, after the sharp fall in copper prices again, the market buying sentiment is cautious, and there are few buying orders under high quotations, because of the close delivery, holders still have the willingness to
hold prices.
It is expected that before the delivery month, the deadlock pattern between buyers and sellers will be difficult to change, and the quotation will remain stable at the premium of 100/ton
.
After waiting for the low copper price to stabilize, downstream buying may improve
.

Affected by the collapse of international gold and silver overnight, Shanghai copper bottomed out again within the day
.
At this stage, Shanghai copper is further out of the fundamental price guidance, capital and market confidence into the market to increase market volatility, short-term Shanghai copper or return to the range shock situation, night trading or a certain rebound, but it is worth noting that the near-month contract is close to delivery, Shanghai copper has repeatedly bottomed out, pay attention to the magnitude of this rebound, if the range gradually decreases, beware of the trend downward
.
Pay attention to the volatility around
50,000 Shanghai copper.
In terms of operation, upstream wait-and-see is the mainstay, and short-term rigid demand is the mainstay
.
Downstream wait-and-see, fast forward and fast out
.