The dollar index climbs strongly, and the risk of copper prices falling increases

In the external market, the Asian market London copper oscillation rose slightly, of which as of 15:20 Beijing time, the three-month LME copper was reported at 6831 US dollars / ton, up slightly by 0.
32%
on the day.
In terms of positions, on May 14, the position of London copper was 319,000, an increase of 464 lots per day, and the decline of London copper in the past week mainly showed that copper prices fell, which increased the divergence between long and short
.

In terms of the market, on May 16, Shanghai electrolytic copper spot traded at a discount of 120-60 yuan / ton for the contract of the month, and the transaction price of flat water copper was 50700-50760 yuan / ton
.
On the first day after the change of month, the market quoted a discount of 120-80 yuan / ton for the 1806 contract, traders asked more, the price was strong enough, and after ten o'clock, the quotation of good copper under the receipt of the receiver has quietly risen to a discount of 70 yuan / ton
.
In the second trading session, flat water copper has risen to a discount of 110-100 yuan / ton
.
The main contributors to the intraday market are mostly traders who receive and deliver long orders, so the transaction has warmed up significantly for good copper and some deliverable and long orders
.
However, the downstream still maintains rigid demand, wet copper stalemate in the discount 170-150 yuan / ton range, the transaction is far less than other varieties, mainly because due to the recent import of copper gradually arrived, wet copper supply has greatly improved, in the downstream did not see a large number of market conditions, quotation to follow and then raise is difficult
.

On the macro front, the Asian dollar index fluctuated in a narrow range around 93.
2 and is now trading around 93.
21, basically maintaining the 0.
63% increase recorded overnight
.
In addition, sales prices of new homes in 70 large and medium-sized cities in China rose 4.
7% year-on-year in April, down from a 4.
9% increase in March
.
Focus on Eurozone CPI final value, US industrial output rate for April, U.
S.
EIA crude oil inventories and other data
.

In the copper market, Chile's Sierra Gorda copper mine said it had closed
after the death of a contract worker.
The mine is controlled
by Polish miner KGHM.
However, the mine produced 101,700 tonnes of copper last year, accounting for only 1.
85% of Chile's total production of 5.
5 million tonnes, and the impact may be limited
.

During the day, the Shanghai copper 1807 contract fell under pressure to 51020 yuan / ton, falling below the main moving average group, as the US dollar index climbed strongly, strengthening short chips
.
In terms of operation, it is recommended that the Shanghai copper 1807 contract can be backed by 51,500 yuan / ton below the high altitude, and the lower support is 50,500 yuan / ton
.