Market sentiment picks up, and the main contract of Shanghai copper is volatile

In terms of industries, the national economy started steadily in the first quarter Positive factors gradually increased, preliminary calculations, the GDP in the first quarter was 213433 billion yuan, calculated at comparable prices, an increase of 6.
4% year-on-year, flat compared with the fourth quarter of last year, down 0.
4 and 0.
2 percentage points
respectively from the same period of last year and the whole year.

In terms of the market, the performance of Shanghai copper fluctuated in the range, and copper ran along the line of 49400 yuan / ton
.
At the beginning of the morning market, the price of holders quoted a premium of 30-140 yuan / ton, bargain buying increased, traders continued to lead the market transaction, flat water copper plate can initially receive a small amount of low-price sources, soon low-price sources are scarce, the quotation was raised to around 40 yuan / ton, good copper buying volume is not as good as flat water copper, slightly adjusted to 120-130 yuan / ton concentrated transaction
.
Wet copper continued to be tight and high-priced, and the quotation rose to around
50 yuan / ton from the previous day.
The willingness of the holders to raise the price has been unceasing, and the receipt of goods is still continuing, but with the rise of the premium, the purchase volume has decreased slightly, and the flat water copper has not yet supplemented the domestic performance of the tightening background, the rising speed is faster and the favor is higher
.
The market is still brewing a consolidation period, spot has gone strong first, and the market is lacking consumption to further stimulate
it.

In terms of stocks, LME copper stocks were 190,500 tonnes on 16 April, down 1,250 tonnes
from the previous session.
As of April 12, 2019, copper cathode stocks on the Shanghai Futures Exchange were 245,178 tons, down 12,142 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

The main 1906 contract of Shanghai copper fluctuated strongly during the day, due to the stable performance of China's economic growth in the first quarter, the acceleration of industrial added value growth, the recovery of market sentiment, and the support of the decline in global copper explicit inventories, copper prices showed a strong trend
.
In the spot market, the hearts of holders to raise prices have been unceasing, and the receipt of goods is still continuing, but with the rise of the premium, the purchase volume has decreased slightly, and the flat water copper has not yet supplemented the domestic performance of the tightening background, the rising speed is faster and the favor is higher
.
On the technical side, the Shanghai copper 1906 contract is still hovering in the volatility range, the NACD indicator shows repeats, and from the 60-minute line, copper prices have not yet got out of the shock pattern
.
Short-term recommendations continue to be viewed in a volatile manner
.