Investors' risk aversion heats up Copper prices may come under pressure in the short term

In the international market, the failure of medical reform made Trump turn his attention to infrastructure reform, and at Tuesday's meeting, Trump proposed to invest in infrastructure and significantly reduce regulatory plans, and the market was boosted by confidence, and today's London copper opened higher
.
As of 15:00 Beijing time, London metal (LME) copper was last quoted at $5,840, up $57, or 0.
99%.

Watch for US ADP payrolls for March and manufacturing data
for March.

Spot market, according to data from Changjiang Copper Industry Network: on April 5, Changjiang spot 1# copper reported 47130 yuan / ton, down 190 yuan from the previous trading day, with a discount of 40 to 20 premiums; Guangdong spot 1# copper price was reported at 46950 yuan / ton, down 350 yuan; Huatong spot 1# copper price was 47155 yuan / ton, down 190 yuan
.
Shanghai area 1# electrolytic copper 47000 yuan / ton, down 250 yuan, flat water copper transaction 47060 down 235, premium copper transaction 47100 down 225; Today's copper prices fell, holders were reluctant to sell, the market did not see manufacturers replenishment after the holiday, the downstream is mostly in a wait-and-see state, the overall transaction is general
.
Yangtze River Nonferrous Metals Network Tel: 0592-5668838

On the news front, one of five unions representing Southern Copper's workers in Peru plans to start an indefinite strike
on April 7 or 10, according to a regulatory filing.
Oscar Gonzalez, the company's chief executive, said he did not expect the labor ministry to approve the strike action and said the company would hire contract workers to protect production
if workers objected to the government's decision.

Today, the main 1705 contract of Shanghai copper opened low at 47090 yuan / ton under the influence of the fall in the external market during the holiday, under the influence of the black rally, the short closing continued to flow out, copper prices rose all the way, away from the daily moving average, broke free from the shackles of the 5, 10 and 20-day moving averages, touched as high as 47650 yuan / ton, and pulled back at the end of the 60-day moving average, closing at 47420 yuan / ton at the long white line, The position decreased by 5,054 lots to 189,000 lots, the trading volume decreased by 244,000 lots to 149,000 lots, the Shanghai copper 1706 contract increased by 4,460 lots to 139554 lots, the position continued to move back, and the Shanghai copper index fell by 920 lots to 526598 lots
.
Today's Shanghai copper rose driven by black, repairing the low opening decline, with the improvement of consumption expectations in April, and the southern copper strike, it is expected that Shanghai copper will be strong in the later period, and the 60-day moving average pressure
will be tested in the evening.