Copper prices have repeatedly moved around the volatility range

In terms of external trading, London copper opened at 6094.
5 US dollars / ton, at the beginning of the session, London copper along the daily moving average narrow range, the US dollar index fell, London copper quickly straight up to 6123 US dollars / ton blocked, and then along 6118 US dollars / ton narrow finishing, during the period London copper up to the intraday high of 6124 US dollars / ton
.
In the afternoon, bulls reduced their positions, and copper prices gave up all the gains of the day, falling to $6,088 / ton
.
Entering the European session, copper prices were accompanied by a large number of long positions, copper prices fell rapidly, hitting a low of 6045.
5 US dollars / ton
within the day.
As of 17:10, London copper was trading at $6065.
40 / ton
.

In terms of the market, copper prices creeping in the line of 49,700 yuan / ton, the volatility of the morning trading session is less than 50 yuan / ton, Shanghai copper close to 50,000 yuan / ton mark performance stop, holders of quotations enthusiastic, the market is willing to cash out, in the transaction continued the previous day's cautious wait-and-see situation, the holder took the initiative to reduce the quotation in a hurry to trade, and throughout the morning session, there was a phenomenon of the holding company competing to reduce the price reduction speed, flat water copper from about 250 yuan / ton quickly fell to 210 ~ 220 yuan / ton, After the good copper began to trade at 290 yuan / ton, the price premium of 230 yuan / ton
was heard at the end of the afternoon market.
The downstream continued to fear heights to suppress the buying volume, and wet copper followed the market to reduce the quotation from 230 yuan / ton to 180~190 yuan / ton
.
Low-priced sources are favored by speculators, but high copper prices still inhibit most of the buying, and some holders mainly reduce inventories slightly, and spot premiums have not stabilized
for the time being.
Within the day, there has been a part of the supply of next month's tickets, falling faster, or one of
the drivers of disturbing the high premium of spot.
In the afternoon, the market fell back, and the holders were still eager to exchange cash and did not stop the rhythm of lowering the rising water, while the downstream continued to fear heights and few transactions
.

Overall, copper prices reversed the trend of the previous two days' close, but still completely stood above
the 60-day moving average.
Li Keqiang said that China will never follow the path of relying on the depreciation of the renminbi to stimulate exports, and the Chinese government is studying policies
to significantly reduce the tax burden on enterprises.
In addition, the People's Bank of China held a symposium to propose that financial institutions should further increase financing support for private enterprises, and domestic policies and funds have taken frequent recent actions to boost market confidence
.
However, copper prices are still hovering in yesterday's volatile range, and the spot market premium high level falls, there is a rush to cash in the high, vigilant against the continuous exit of the market profit order, Shanghai copper may test whether it can consolidate in the current high range
.