Copper market low volatility short-term prices may continue to remain weak

Today's LME March copper first rose and then suppressed, opened at $5826.
5 in the morning, rose after the opening, peaked at $5775.
5 in early trading and then pulled back, fell sharply in midday after the shock, and tested the lowest point of $5735.
5 at the end of the day, and closed at $5744 during the domestic trading session
.

Macro: China's passenger car consumption in March was sluggish, with sales increasing by only 1.
6% year-on-year, which is the performance of the current overall sluggish terminal consumption, and can also show the decline in the consumption of copper, aluminum and other metals in the automotive industry
.
At present, the market macro news is lacking, and the current tightening of monetary liquidity, the weak real estate market and other negative factors are still continuing to release
.
The prices of black commodities led by rebar fell sharply, and the prices of non-ferrous metals fell, and they fell green
.

Spot market: Today's Shanghai Nonferrous Metals Trading Center (SME), spot copper mainly traded 46640-46770 yuan / ton in the morning, down 320 yuan from the previous working day, and the premium was reported at C40-B 70 yuan / ton, unchanged
from the previous working day.
The copper spot price index was trading at 46,750.
5, down 320
from the previous session.
Today's market trading is acceptable, slightly lower than the previous trading day, traders are actively shipped, imported copper is most, smelters are less shipped, market supply is flat, the current copper downstream cable and air conditioning industry orders pick up, copper rod and copper pipe enterprise purchase volume rebounded, orders are mostly concentrated in the hands of large manufacturers, medium-sized manufacturers are OK, but small manufacturers seek transformation, hold a wait-and-see attitude
.
The afternoon discount is basically the same as in the morning, good copper reported at B40-B60 yuan / ton, flat water copper B00-B10 yuan / ton, wet copper C70-C60 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders hold a downward view, and a small number of traders hold an upward view
.

Today, as spot premiums remain up, but there is little room for basis arbitrage, traders are not moving goods
.
The downstream, especially the orders of cable and air conditioning enterprises, are good, and the consumption of copper rod and copper pipe enterprises is positive
.
The subsequent peak consumption season may still be expected
.
From a technical point of view, the 1705 contract, the daily level, the daily K line slipped out of the MA moving average track, and along the BOLL track, the price fell in the price box
.
Short-term prices may continue to remain weak, and the medium- and long-term consumption season may support
prices.