The main force of Shanghai copper fluctuated upward, and the actual trading market situation was still deadlocked

Market Focus: Kudlow said on Sunday that the recent phone calls between U.
S.
and Chinese trade negotiators were "positive" and that more calls
with Chinese negotiators are planned for the coming week to 10 days.
Trump said on Sunday that he would delay imposing tariffs
on some China until Christmas.
The ongoing anti-mining protests in Peru have expanded to Anglo American and Mitsubishi's $5 billion Quellaveco project in the neighboring Moquegua region
.
The Quellaveco copper mine is expected to come on stream in 2022 and will be able to produce 300,000 tonnes of copper
per year for the first 10 years of operation.

Spot analysis: On August 19, spot 1# electrolytic copper was quoted at 46440-46520 yuan / ton, with an average price of 46480 yuan / ton, up 20 yuan / ton
from the previous trading day.
Holders are willing to raise prices in the morning, but it is difficult to open the situation when the market conditions are in place, and the holders have lowered the quotation of flat water copper, and it is difficult to show lower premium prices
after the transaction has improved.
Copper will remain stable, holders will not change their willingness to hold prices, traders are looking forward to low-priced supplies, and the actual transaction market conditions are still deadlocked, showing the characteristics of
Monday.

Warehouse receipt inventory: Shanghai copper warehouse receipts totaled 76,406 tons on Monday, an increase of 2,133 tons per day; On August 16, LME copper stocks were 331975 tonnes, up 30,225 tonnes
per day.
As of the week ended August 16, the stock of copper cathode on the Shanghai Futures Exchange was 162,830 tons, an increase of 6,463 tons
.

Main positions: the top 20 long positions of Shanghai copper main 1910 contract are 72701 lots, an increase of 1603 lots per day, short positions are 91640 lots, a daily increase of 1871 lots, net short positions are 18939 lots, a daily increase of 268 lots, long and short are increased, and net space increases
.

On August 19, the main force of Shanghai copper 1910 fluctuated upward
.
Copper prices recovered slightly as trade tensions between China and the United States eased and risk sentiment increased, although rising midstream copper inventories and continued weakness in terminal demand put some pressure
on copper prices.
In terms of spot, the holders have the willingness to raise prices in the morning, but it is difficult to open the situation when the transaction market is in place, and the holders have lowered the quotation of flat water copper, and it is difficult to show a lower premium price
after the transaction improves.
Copper will remain stable, holders will not change their willingness to hold prices, traders are looking forward to low-priced supplies, and the actual transaction market conditions are still deadlocked, showing the characteristics of
Monday.
Technically, the daily MACD green column of the Shanghai copper main 1910 contract turned red, focusing on the pressure above the 47300 position, and it is expected that the short-term shock adjustment
.