The dollar index stopped falling and rebounded, and copper prices gave up some of their gains

In terms of external trading, Apanlon copper opened at $5444 / ton, briefly falling
after the open.
After the opening of Shanghai copper, London copper rose more than $30/ton straight up to the highest point of the day of $5464/ton, but soon gave up its gains and returned to the $5442/ton position
.
Then London copper slowly rose about 10 US dollars / ton, at this time more flat short, London copper fell sharply to the lowest point of the day of 5418 US dollars / ton
.
After testing the low, it recovered slightly, entering the European session, London copper fluctuated
around the $5430 / ton position.
As of 17:00, London copper closed at $5433/ton, down $12.
5/ton, or 0.
23%.

In terms of the market, the domestic two sessions are about to be held, the market is expected to boost economic stimulus, new infrastructure and other policies, and the strong rebound of copper in Shanghai exceeded 44,000 yuan / ton in one fell swoop, and the target was 44,500 yuan / ton, an increase of more than 500 yuan / ton
。 Morning market holders quotation flat in the premium 180 ~ 200 yuan / ton range, flat water copper premium 180 yuan / ton transaction is acceptable, downstream recognition of the rebound of copper price plate, maintain the rhythm of just need to receive goods, but due to the continuous increase in imported copper customs clearance and warehousing, the source of imported copper has increased significantly, holders have increased their willingness to exchange cash at high prices, have opened the quotation reduction mode, trying to win with price advantages, increase the opportunity of exchange cash, therefore, flat water copper from 170 yuan / ton quotation fell straight to 150 ~ 160 yuan / ton , good copper premium 170 ~ 180 yuan / ton, the transaction is not as good as flat water copper
.
Due to the obvious proportion of wet copper and low-end imported copper in the source of imported copper, wet copper has dropped from 150 yuan / ton in the morning market to 120~130 yuan / ton
.
The market is high, although the market is not short of buying, but it is difficult to resist the sentiment of holders eager to sell, if the Shanghai ratio maintains a strong upward trend, imported copper inflows will also continue, and the pressure of high cash exchange will stop at the 200 yuan / ton mark in the short term
.
In the afternoon, the high of the plate gave up the gains, the holders are still continuing to exchange the rhythm, flat water copper has dropped to 140-150 yuan / ton, good copper premium 160-170 yuan / ton is difficult, the transaction is still not as good as flat water copper, the transaction price fell to 44360-44540 yuan / ton
.

During the day, Shanghai copper mainly ran above the high of 44,000, mainly because the market's expectations for the global economic recovery were further strengthened, and the country was also eagerly awaiting the introduction of favorable policies at the "two sessions", macro sentiment continued to heat up, and copper prices were supported
.
But concerns about the long-term impact of the new crown epidemic remain, and the cumulative number of new crown pneumonia cases in the world has exceeded 5 million, and investors' cautious attitude has stopped the dollar index and suppressed the momentum of copper prices
.
Wait for the guidance of the external market to test whether the bulls can continue to exert strength and support the Shanghai copper upswing
.