Copper lacks upward momentum Prices are expected to be dominated by weak shocks

In terms of external trading, Apanlon copper opened at 5764 US dollars / ton, maintained a narrow range after the opening in the morning, and moved up to around 5772 US dollars / ton at noon, during which it tested 5775 US dollars / ton.
But then entered the European market, affected by the domestic central bank's interest rate cut, once again increased the market's preference for the US dollar, causing the US dollar to rush to 98.
4, copper prices under pressure to fall rapidly, bulls afraid to close their positions actively, touching down 5739 US dollars / ton
.
As of 16:20, London copper was at $5,741 / ton, down 0.
48%.

In terms of the market, the center of gravity of Shanghai copper moved up to near the first line of 46,600 yuan / ton
.
Morning market holders quoted a premium of 60 ~ 80 yuan / ton, good copper holders are still more persistent, maintain a premium of 70 ~ a premium of 80 yuan / ton nearby, traders intend to receive goods at a low price, but it is difficult to have room for price reduction, flat water copper sources are concentrated in the premium 50 ~ 60 yuan / ton; Wet copper is quoted around the first line of 20 yuan / ton of premium, and the downstream maintains rigid demand
.
Traders are willing to hold prices, but the supply is sufficient, the market stops and waits, the quotations of holders are stable, and the spot quotations continue to stalemate the pattern
.
In the afternoon, due to the stability of the market price, the market stalemate pattern did not change, so the market quotation did not change significantly in the afternoon, and trading continued to be light
.
In the afternoon, flat water copper reported a premium of 50-60 yuan / ton, a good copper report of 70-a liter of 80 yuan / ton, and the transaction price was in the range of 46620 yuan / ton - 46700 yuan / ton
.

The center of gravity of Shanghai copper in the daily market remains basically unchanged, mainly because there is no obvious guidance at the macro news level, the long and short sides are currently in a stalemate and tug-of-war, copper prices fluctuate to maintain stability, but it is still necessary to be vigilant against the current situation of trade turmoil and economic slowdown, and the probability of Shanghai copper falling is still large
.
Shanghai copper closed negative during the day, the upper pressure 40-day moving average, KDJ and other technical indicators have no obvious signs
of favor.

Yesterday's Shanghai copper fluctuated intraday, opened low and downward in overnight trading, and the main contract closed at 46380
.
There is still no significant change in Shanghai copper fundamentals this week, and the overall operation
is weak.
Domestic social inventories continue to accumulate the trend, the Shanghai-Shanghai ratio remains high, the import window remains open, and the bonded zone inventory continues to return, while the output is expected to remain high this month, and there is a risk
of further accumulation of inventory under weak consumption.
In addition, it is still necessary to pay attention to macro risks, paying attention to the speech of the head of the Federal Reserve on monetary policy this Friday
.
Short-term copper lacks upward momentum, the price is expected to be dominated by weak shocks, and a small amount of 49,000 imaginary call options
can be sold in operation.