Copper prices are weak

In terms of external trading, liquidity at the end of the quarter tightened again, interbank market capital prices, treasury bond repurchase rates, interbank interest rate swap prices and interbank deposit certificate interest rates rose across the board, after Wednesday's open, the two markets opened low, commodities fell collectively, London copper opened low at 5768.
5 US dollars / ton, after the opening copper prices along the daily moving average leaked, the low recorded 5715 US dollars / ton, and then under the impetus of short covering, copper prices rose back to near the daily moving average, and in the afternoon copper prices relied on the daily moving average, repeatedly oscillating tests around 5746 US dollars / ton , during the Asian session, copper prices tried to pull up to 5760 US dollars / ton, but as the dollar rose, London copper bulls quickly took profits to close their positions, copper prices fell again, the daily moving average below showed support, as of 17:18, London copper reported 5744 US dollars / ton
.
At present, London copper fell below all moving averages, the performance is easy to fall and difficult to rise, and the short-term is dominated
by weak shocks.

On the macro side, the central bank hastensively issued the article "Opinions on Doing a Good Job in Credit Policy Work", requiring that the guidance of commercial banks should be strengthened, urging them to optimize the credit structure and reasonably control the ratio and growth rate
of housing loans.
In addition, it is reported that the purchase restrictions around Beijing have also been upgraded, and the real estate control policy continues to be tightened
.

In terms of the market, Shanghai copper fell by nearly 1,000 yuan, the value preservation order profit shipment, coupled with a large outflow of the previous delivery source, inhibiting the current copper discount narrowing space, the low-end source of goods is further reduced, and the flat water copper has almost no price difference, speculators absorb low-priced sources, want to push up the current copper discount, helpless downstream consumption has not seen obvious improvement, the transaction is general
。 In the afternoon, the plate is low consolidation, the market is rich in supply, the market buying can be more selective, good copper is difficult to last in the discount 80 yuan / ton, helpless forced to lower the discount quotation, can be traded at a low price, flat water copper discount 190 yuan / ton - discount 160 yuan / ton, good copper newspaper discount 150 yuan / ton - discount 100 yuan / ton, the transaction price is 46210 yuan / ton - 46400 yuan / ton
.

On the industrial front, the Cerro Verde copper miners' association said that the new strike will take place on Friday morning local time, and said that even if the new strike is declared illegal, the union will still have a 10-11 day window to continue the strike and continue to strike until April
.
According to foreign news, heavy rain has interrupted the railway transportation of minerals from central Peru to the Pacific coast, and Peruvian mining has been affected, of which the Toromocho copper mine owned by CTS International is located in the area affected by heavy rain, which has an annual output of about 300,000 tons
of copper.

Overall, considering that the supply and demand side of the copper market has indeed improved, and the traditional consumption season is coming, it is still optimistic about the performance of copper prices in the peak season, and it is recommended to buy
on the dip in trading.
US new home sales data will be released on Thursday, Eurozone PMI data for March will be released on Friday, and a number of Fed officials will speak, which is worth watching
.