Copper prices are narrowly sorted out The directionality of the price is not strong

In terms of external trading, London copper morning market opened at 6226 US dollars / ton, early London copper along the daily moving average narrow finishing, during the period of 6211.
5 US dollars / ton, due to the US dollar index lower, London copper broke through the daily moving average, the center of gravity slowly rising, during the period of occasional long profits exit, copper price center of gravity slightly down
.
In the afternoon, the center of gravity of London copper continued to rise slightly, and at the end of the Asian session, due to the sharp decline of the US dollar index, London copper quickly rose, breaking through 6300 US dollars / ton, climbing 6331.
5 US dollars / ton
.
During the European session, the dollar index recovered all of its losses during the day, and the center of gravity of London copper gradually gave up some of its previous gains, but the low or daily moving average supported
.
As of 18:00, London copper was trading at $6281/ton
.

In the market, Shanghai copper rebounded after the 5-day moving average was supported, and copper prices hovered at 50,500 yuan / ton
.
Last week some holders digested the new imported copper, last week copper inventory out of the stock increased, import window after the National Day continued to close, this week holders returned to the price situation, the morning market tried to fully premium quotation, good copper quotation premium about 30 yuan / ton, flat water copper reported flat water, but it is difficult to have the expected gradual reduction in the transaction, the transaction is concentrated in good copper premium 10 ~ 20 yuan / ton, flat water copper discount 20 ~ discount 10 yuan / ton
。 There are many wet copper sources in the market, and the downstream is extremely low in the face of the rebound of the plate and the willingness to lift the goods on the premium structure of the spot, and some holders have a discount of 100 yuan / ton until about 11 o'clock to begin to significantly expand the discount for cash, and the low-price wet copper source is in the range of 150 ~ 160 yuan / ton, and even has the intention
to press down to 180 yuan / ton.
During the week, when it comes to the final delivery of this month's long order, the holder is reluctant to reduce the quotation excessively, and the willingness to raise the price is still strong
.
However, if the market continues to rise, the active buying downstream is still significantly suppressed
.
In the afternoon, the high level around 50,500 yuan / ton fluctuated, the willingness of cargo holders to raise prices was still strong, and the downstream stopped and feared heights, and the two sides were in a stalemate
.

In terms of news, the National Energy Administration released information showing that the electricity consumption of the whole society in September was 574.
2 billion kWh, an increase of 8% year-on-year, and the data remained stable and upward, which was good for industrial products; The intraday stock market war has injected a shot of strength into the market, but macro political risks still exist
.
This week, we need to focus on the US GDP data for the third quarter, if the US maintains high growth, the expectation of interest rate hikes will be bearish again
.

Shanghai copper 1812 contract rebounded slightly during the day, the end of the market closed at 50510, Shanghai copper short-term 51000 pressure, short rhythm, the price directionality is not strong, maintain 50000 around disorderly fluctuations, but fall back to continue to do long ideas do not change
.