Copper prices rushed back down and the short-term upward pressure is still large

In terms of the market, Shanghai electrolytic copper spot contracts for the month reported flat water - premium water 60 yuan / ton, flat water copper transaction price 50820 yuan / ton - 50920 yuan / ton, liter copper trading price 50840 yuan / ton - 50960 yuan / ton
.
Shanghai copper rose slightly, around 50800 yuan / ton a line of strong shock, 1810 contract last trading day, most of the market has turned to the next month 1811 contract quotation, the next month price difference between 0-20 yuan / ton fluctuates frequently, market inquiry is active
.
The monthly price of the early interval is still fluctuating between 20 yuan / ton, the price difference does not fluctuate much, and the spot price for the 1811 contract is 40-90 yuan / ton
.
Subsequently, the price difference in the next month was flat for a long time, the market's willingness to receive goods was low, but the willingness to ship at high prices was strong, and it was helpless to reduce the quotation
.
It can be seen that the downstream receiving initiative is poor, and although the entire market is active in inquiry, the transaction is weak, highlighting the stalemate on Monday and the delivery day
.

On the news front, the Asian dollar index weakened and is now trading around 94.
961, as the University of Michigan consumer confidence index fell sharply in early October as it fell short of expectations
.
In terms of industry, China's copper concentrate imports in September were released, with data showing that it was as high as 1.
93 million tons, an increase of 30.
9% year-on-year, and a total of 14.
991 million tons, an increase of 19.
5% year-on-year, and the monthly import volume once again updated the historical high
.

Copper futures fell sharply during the day as China's copper concentrate imports climbed to a record high in September, supporting copper prices
.
From a technical point of view, the futures price did not break through the previous high after the rise, indicating that the short-term upward pressure is still large, but the lower moving average support still exists
.
Operationally, it is recommended that the CU1811 contract mainly go long with a pullback, and fall below 50,000 yuan / ton to stop and exit the market
.