Copper prices fluctuated and slowly moved down after a short consolidation

In terms of the external market, London copper opened at 6818 US dollars / ton, at the beginning of the session London copper briefly hovered near the opening price, then London copper rose rapidly, rushed to 6842.
5 US dollars / ton, the follow-up upward momentum is insufficient, bulls gradually left the market, London copper quickly fall, fell below 6800 US dollars / ton support, after entering the European and American session, London copper tried to rebound low, to 6832 US dollars / ton, dragged down by the strong rise of the US dollar index, London copper fell again, as of 17:14, London copper reported 6789.
5 US dollars / ton
。

In the market, Shanghai copper continued to fluctuate at a low level, and quotations continued to stalemate, but the divergence between supply and demand increased
.
The morning market quotation discount 150 ~ 110 yuan / ton, traders in order to complete the delivery of the long order within the month, intentional price reduction, biased towards good copper, early good copper more concentrated transaction at the discount of 120 yuan / ton, flat water copper is still hard top discount of about
160 yuan / ton.
However, with the outflow of delivery sources, the market source of goods has increased again, especially the delivery warehouse receipt, adjusted the price of shipment, and was once pressed to a discount of 170 yuan / ton, long-heard of Zhongtiaoshan, silver, and even Zijin and other brand warehouse receipts have emerged, which is attractive to trade speculators, and long-term order deliverers still ignore these low-priced sources and maintain a high price due
to brand restrictions.
Downstream to maintain rigid demand, intraday market transactions mostly contributed to traders, during the week may maintain the spot stalemate pattern
.

In terms of stocks, as of June 20, COMEX copper stocks 227129 short tons, down 483 tons from the previous day; As of June 21, LME copper stocks were 307675 tons, down 1,300 tons from the previous day; Shanghai stock exchange futures inventories were 149088 tons, down 924 tons
from the previous day.

Overall, the prospect of a worsening Sino-US trade war has caused global economic demand concerns, but because the supply disruption has not disappeared, and from the Escondida copper mine negotiations, the target differences between labor and management are still relatively large, under this pattern, although copper prices are worried about demand, supply concerns are also limited
.
In the short term, the market panic has eased, and the decline in copper prices has narrowed, but the macro bearish dominates, and copper prices are likely to remain weak
.
Pay attention to the support
of the pre-finishing platform 51000-52000 yuan / ton.
FYI
.