November 30 Shanghai copper morning review

In terms of the market, as of 2017-11-29, the spot price of SMM 1# electrolytic copper is 53110 yuan / ton, down 330 yuan / ton from the previous day, compared with the discount of 110 yuan / ton for near-month contracts, copper futures continue to pullback, following yesterday's traders a large number of low price selling, today's market performance stabilized, did not see a large number of outflows of goods, approaching the end of the month, the performance of various enterprises is differentiated, large enterprises do not see financial pressure and bill settlement troubles, quotations are firm, performance is calm and wait-and-see, small enterprises have a small amount of dumping cash performance, However, it cannot change the overall supply and demand structure of the market, and yesterday's market began to show the characteristics of
a month-end stalemate.

Base metals have recently performed weakly, copper prices have been strongly suppressed by bears, technically London copper fell below the 60-day moving average, three consecutive black lines will basically eat up the previous gains, short-term is expected to still have downside, or will move closer to the $6700 / ton position
.
It is expected that today's Shanghai copper main force 1801 range of 52550~53000 yuan / ton, today pay attention to China's PMI data
.