Fundamentally, market sentiment preference Copper prices fluctuated slightly

In terms of the external market, the Asian market, London copper gap opened high at 6539.
5 US dollars / ton, the opening around the daily moving average to do a narrow range of oscillation, the beginning of the session touched 6545 US dollars / ton, but then affected by the rise of the US dollar, copper prices quickly fell back to around 6520 US dollars / ton, oscillating in the range of 6215-6530 US dollars / ton, basically filling the morning gap, until noon, copper prices rose again, but only after touching the daily moving average, it stagnated at 6528 US dollars / ton to do shock sorting, the end of the Asian market until after entering the European market, Copper prices continued to test the downward path, testing the $6,500 mark, once testing down at $6,499 / ton
.
As of 17:30, London copper was trading at $6,500 / ton, up $27 / ton
.

In terms of the market, the favorable Sino-US trade negotiations continued to give the market optimistic expectations, coupled with China's official manufacturing PMI in March exceeding expectations and the previous value, and the official landing of tax cuts, boosting the market and guiding the Shanghai copper gap to open higher, sharply pulling up to 49,300 yuan / ton
。 Entering April, the market spot all including VAT 13% invoice quotation, morning market holders quotation is high, quotation premium 20 ~ 100 yuan / ton, difficult to have a transaction, market buying performance is cautious, flat water copper holders take the lead in abandoning the price adjustment situation, flat water copper adjustment to 30 ~ discount 20 yuan / ton, the transaction is better, good copper is reduced to 50 ~ 60 yuan / ton
.

VAT landed, spot premium returned, but on the first day of April, the performance of the market was red, the performance of the cargo holders was strong, the right to speak in the spot market was still in the hands of the holders, and there was a tug-of-war
between the supply and demand sides.
In the afternoon, due to the recovery of plate prices, the downstream stopped and waited for the high price, and the current holders were not eager to sell goods, and the quotation was firm, so the transaction performance was more deadlocked
.

Shanghai copper jumped higher during the day, and fluctuated
slightly during the day.
Fundamentally, market sentiment favors, Sino-US trade negotiations are progressing smoothly, and the PMI value of the domestic manufacturing industry far exceeded expectations, reaching a five-month high, bringing huge benefits
to the entire non-ferrous metal market.
In terms of turning to Lun copper, there will be a partial decline after hitting the high level again, which will also have a certain impact
on the country.
It is expected that Shanghai copper will maintain a shock adjustment trend after this high opening, and the shock range is expected to be 49000-49500, and in the case of reduced copper concentrate supply and industrial recovery in this year, there will be a stage of small rise after short-term adjustment, and the specific range will depend on the later demand boost
.