Copper prices continue to come under pressure during the day and the willingness to fall may weaken

In terms of external trading, today's Asian Lun copper fell under pressure for the fourth consecutive day, of which 3-month London copper continued to fall 0.
77% to 4732 US dollars / ton, the current London copper began to fall to around M60, short-term here or launch oscillation sorting, the lower support focus on the support of the 4700 US dollars / ton mark
.
In the past week, Lun copper has mainly increased its position, indicating that bulls actively entered
the dip.

On the macro front, the dollar index in Asia traded in a narrow range around 96 as the Fed's June minutes were dovish and policymakers worried about declining employment growth, giving rise to heavier
pressure on the dollar index.
In addition, this week, the market is focused on the June non-farm payrolls data due on Friday, which is expected to be better than May
.

In terms of market: on July 7, Shanghai electrolytic copper spot reported a premium of 40-90 yuan / ton, and the transaction price of flat water copper was 37170-37240 yuan / ton
.
At the opening, copper was reported as a premium of 50-60 yuan / ton, and flat water copper was 40 yuan / ton, but due to the sharp drop in copper prices downstream, it made holders reluctant to sell
low-premium sources.
After 9:30, the current copper premium began to rise
.
After 11 o'clock, spot trading began to cool, but the premium was still firm
.
The intraday good copper market is highly favored, and the characteristics of supply and demand tug of war are obvious
.

In terms of information, the cumulative import of copper cathode in the United States from January to May was 245247 tons, down 17% year-on-year; During the same period, the United States exported 87,871 tons of copper cathodes, a sharp increase of 363%
year-on-year.
Data show that the United States has seen a decrease in copper imports and a sharp increase in exports this year, indicating a significant decline in copper demand
.

Today's Shanghai copper 1609 contract fell under pressure to 36910 yuan / ton, as copper prices continued to rise or face technical pullback pressure, but the short-term dollar index rose weakly, and the risk of copper decline was released, and its willingness to fall may weaken.

It is recommended that the Shanghai copper 1609 contract can be sold high and low between 36600-37500 yuan, and the stop loss is 350 yuan / ton
each.