Copper prices lack strong support, and the center of gravity continues to maintain a stable low

In terms of external trading, Apanlon copper opened at 6124 US dollars / ton in the morning, and the center of gravity moved slightly up to around 6150 US dollars / ton after the opening, and the short-term test was 6162 US dollars / ton in the morning, until the end of the Asian session, due to the pressure of the recent geopolitical conflict between the United States and Iran caused by the surge in risk aversion, safe-haven gold once rushed higher, resulting in copper prices continuing to decline after entering the European market, and the low level tested the 6100 US dollars / ton mark
.
As of 17:20, London copper closed at $6101.
5/ton, down 0.
58%.

In terms of the market, the situation in the Middle East fermented, risk appetite rose, Shanghai copper under pressure fell to 48600 yuan / ton line, copper prices continued to fall, market inquiry enthusiasm is high, buying interest is improved, holders are willing to raise prices clearly, the morning market is quoted premium 40 ~ premium 60 yuan / ton, low price flat water copper 40 yuan / ton was closed in seconds, soon flat water copper raised to 60 yuan / ton or more, good copper transaction basically around premium 60 ~ premium 80 yuan / ton, under the active promotion of buying, good copper pushed up to 90 yuan / ton, Low-priced sources still attract some traders to buy; Wet copper followed the quotation upward, and the quotation was concentrated near
the flat water.

Intraday market fell and pullback, some downstream continued to buy on the dip after the concentrated receipt on Friday, the market transaction continued to increase significantly compared with last week's activity, trading enthusiasm increased, before delivery will continue to push up the water, the short-term target good copper station is more than 100 yuan of premium, the market eliminates the source
of discounted goods.
In the afternoon, due to the continued decline in the market price, traders kept a wait-and-see for the big decline, and the market quotation in the afternoon was small, so there was no big change
.
In the afternoon, flat water copper reported a premium of 60-70 yuan / ton, a good copper report of 70-a premium of 80 yuan / ton, and the transaction price was in the range of 48660-48780 yuan / ton
.

The center of gravity of Shanghai copper continued to maintain a stable low level during the day, mainly because the current situation in the United States and Iran has become the leading factor affecting the trend of copper prices, the continued geopolitical tension in the Middle East has increased the global risk aversion, CMX gold has risen to the highest point in 6 years, has broken through 1590 US dollars / ounce, copper and other risk assets have heard the sound lower
.
At the same time, the domestic Caixin service PMI in December was less than expected, which also reduced the market's optimism and lacked strong support
for Shanghai copper.
At present, Shanghai copper has fallen for 5 consecutive days, and has now fallen below the 20-day moving average support level, KDJ opening downward trend increased, technical performance bearish, waiting for external guidance in the evening, testing whether Shanghai copper can hold 48700 yuan / ton
.