Due to the impact of short entry into the market, copper prices slowly declined

In terms of external trading, Asian market, London copper opened low at 6040 US dollars / ton in the morning, after opening around the daily moving average narrow range, because the dollar weakened, boosting copper prices to shock upward, the center of gravity moved up to around 6065 US dollars / ton, continuous upward impulse energy is insufficient, copper prices in this position performance narrow range oscillation, during the high 6068 US dollars / ton, but then the high failed to continue to maintain stability, the center of gravity soon fell back to the daily average below the 6055 US dollars / ton position after concentrated trading, until into the European market, copper prices continue to fluctuate downward, Subsequently, despite the attempt to recover to test the daily moving average, but soon the price was knocked back to the downward range, after testing the low of $6030 / ton, the low price of copper rose again, as of 17:00, London copper reported 6045 US dollars / ton
.

In terms of the market, Shanghai copper around 47500 yuan / ton line of weak finishing, close to the delivery cycle, the next month contract spread all the way to 120 yuan / ton line, morning holders quoted flat water copper premium 10 ~ 20 yuan / ton, good copper premium 80 ~ 90 yuan / ton, after the spread opened to expand the trend, low-price sources are attractive, low-price sources are quickly collected, flat water copper up quotation to 30 ~ 40 yuan / ton, good copper quotation to 100 yuan / ton, market buying continues to ferment, transaction enthusiastic
。 In the afternoon, due to the enthusiastic market transaction, trade speculators continued to be active, and holders took the opportunity to continue to raise their quotations, although the delivery was close and the market price difference was only 120 yuan / ton, but the afternoon quotations had completely exceeded this level
.
In the afternoon, flat water copper reported a premium of 80-90 yuan / ton, a good copper report of 140-a liter of water 160 yuan / ton, and the transaction price was in the range of 47440 yuan / ton - 47580 yuan / ton
.

Shanghai copper opened low and fluctuated again during the day, and as of the close of the day, the main force of Shanghai copper 1907 closed at 47490 points (-230, -0.
48%); Trade negotiations friction stimulated the market, China's evening tax hike plunged the market, panic soared again, overnight London copper fell to drive Shanghai copper down
.
At present, the supply and demand of refined copper is still strong in fundamentals, and the tight supply of concentrate in the later period provides support for copper prices, and the probability of deep decline is small
.
In terms of domestic market sentiment, with the release of multiple rounds of bearish factors, the overall stocking sentiment has picked up, and the overall trading of the market has gradually increased
.
It is expected that Shanghai copper will maintain a low volatility in the near future, or there will be a small rebound, and the lower support level is 4.
7-47,500
.
Pay attention to the counter-cyclical regulation and implementation of tariffs in the later stage of
China.
It is recommended that the cargo holders wait and see, and the downstream just needs to pick goods
.