Copper price decline risk released The willingness to rise has increased

In terms of external trading, Asian market London copper rushed back down, of which the 3-month LME copper rose only 0.
65% to 4813 US dollars / ton at the close of the Shanghai copper market, but London copper is currently up 3.
89% from the low of 4631 US dollars / ton in this round of correction, and its rebound resistance focuses on 4900 US dollars / ton
.

Macro: The Asian dollar index oscillated stronger, now trading around 94.
2, close to the low set on August 24 last year, while U.
S.
crude oil futures were boosted by the expected freeze production agreement, rising further to around $41.
6 per barrel, driving commodity market sentiment up
.
In addition
.
China's March import and export data was much stronger than expected, showing a marked improvement in domestic and foreign demand, with exports in March rising 18.
7% year-on-year, the first increase in nine months; March imports were -1.
7% year-on-year, both stronger than expected and prior
.

In terms of the market: Shanghai copper undertook a strong rise in the night market, rising more than 1,000 yuan, speculators made a large number of shipments, although the basis of the next month opened to 180 yuan / ton, but the middlemen were eager to exchange cash, good copper premium can only be maintained at 20-50 yuan / ton, flat water copper struggles near
flat water.
Recently, the Shanghai-London ratio has been revised slightly upward, and the supply of imported copper is sufficient
.
Spot trading is concentrated and active among
traders.
In the second trading session, copper prices retreated, but downstream had no intention of chasing higher purchases
.
The market as a whole was depressed
by the sharp rise in copper prices.

Industry: China's imports of unwrought copper and copper products reached 570,000 tons in March, an increase of 35.
7% month-on-month and a year-on-year surge of 101%, resulting in a cumulative import of unwrought copper and copper products from January to March reaching 1.
43 million tons, an increase of 30.
1%
year-on-year.
Copper imports hit a record high in March, with arbitrage opportunities becoming one of
the main reasons for the increase in copper imports.

Overall, today's Shanghai copper 1606 contract oscillation strengthened to 36830 yuan / ton, the corresponding intraday black and chemical commodities quickly rose and then rushed back down, or show that the short-term sector rotated, funds were transferred, and the willingness to rise strengthened after the short-term copper price decline risk was released
.