Copper prices fell rapidly and waited for guidance from the outside market

In terms of the outer disk, Lun copper opens low and goes
high.
During the Asian session, London copper opened at 6030 US dollars / ton, the beginning of the session copper price briefly fell to this week's new low of 6016 US dollars / ton, after the bottom of the copper price rebound, breaking through the daily moving average shock upward, noon has completely digested the opening decline, the high reached 6084 US dollars / ton, in the afternoon until the end of the Asian market, copper prices fluctuated in a narrow range around 6070 US dollars / ton, the range of shock did not exceed 25 US dollars / ton, Europe and the United States, boosted by the good news of Sino-US trade, copper prices climbed up again, short-term touch 6110 US dollars / ton After falling slightly to $6,092/ton, copper prices continued to rise to an intraday high of $6,181/ton, followed by China's dismal data on the increase in social financing scale in October, and copper prices fell
from a high level.

In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 10 yuan / ton ~ 60 yuan / ton, a flat water copper trading price of 48780 yuan / ton ~ 48820 yuan / ton, and a premium copper trading price of 48820 yuan / ton ~ 48850 yuan / ton
.
The U.
S.
index remained strong, Shanghai copper has been overcast for seven consecutive years, overnight copper prices have fallen below 49,000 yuan / ton, at 48,800 yuan / ton in a weak narrow range
.
The price difference in the next month remained 70~80 yuan / ton, and the morning carrier quotation premium was 20~70 yuan / ton, the market performance was cautious, the downstream was bearish, and the willingness of holders to exchange cash was enhanced and actively reduced
.
After 11 o'clock, Shanghai copper rose by nearly 100 yuan, the price difference briefly widened to around 100 yuan in the next month, the quotation of the holder rose, the flat water copper maintained a stable premium of 20~30 yuan / ton, and the good copper price returned to the premium of 70 yuan / ton, but it was close to the end, and the market was difficult to form a positive response
.
The overall trading heat of the intraday market is low, coupled with the annual CESCO meeting, the trade atmosphere is also relatively light, and a small number of traders have traded at a low price
.
Approaching the delivery period, the price difference of the next month is still repeated, the market has not stopped falling, and it is difficult
for the market to rise.

During the day, the main force of Shanghai copper returned to the low level after closing six consecutive negatives, the center of gravity was slightly raised, and the red column with a long lower shadow was closed, waiting for the guidance of the external market, paying attention to the situation of short position reduction, testing whether the main force of Shanghai copper could hold the 49,000 yuan / ton line
.