Shanghai copper pullback short-term weak consolidation is the mainstay

In terms of the market, the domestic spot copper price pulled, the Yangtze River Nonferrous Network 1# copper price was 51620 yuan / ton, down 230 yuan, 240 liters - 300 liters; Guangdong spot 1# copper price was 51920 yuan / ton, down 80 yuan; Yangtze River spot 1# copper price was reported at 51650 yuan / ton, down 230 yuan, premium 290-310; Shanghai spot 1# copper price was 51600 yuan / ton, down 250 yuan
.

In terms of stocks, copper stocks in the COMEX period ended April 18 238217 short, down 58 tons from the previous day; LME copper stocks were 355,150 tonnes, down 4,125 tonnes from the previous day; As of April 20, SSE futures inventories were 140853 tons, down 3,906 tons
from the previous day.
The subtotal of stocks in the previous period of this week was 261743 tons, down 19,093 tons
from last week.

Industry news, statistics from the Central Bank of Peru show that in February, Peruvian mineral exports amounted to $2.
195 billion, an increase of 0.
4% year-on-year; Copper ore exports were 184,900 tons, down 16%.

Lead exports were $147 million, down 5.
7%; This was mainly due to a 13.
1% drop in exports to 67,900 tonnes
.
Zinc exports rose 27 percent to $245 million, while export prices rose 34 percent while exports fell 5 percent
to 105,300 tonnes.

The recent ups and downs in the trade war have caused market sentiment to fluctuate greatly, which in turn has a greater
impact on commodity prices.
From a fundamental point of view, domestic inventories continued to decline significantly, and spot stocks maintained a high premium, reflecting the gradual improvement of downstream demand and supporting copper futures prices
.
However, the recent news is frequent, there are many uncertainties in the trade war, and the market is cautious, and copper prices may maintain a volatile trend
in the short term.
FYI
.