The main force of Shanghai copper rushed back down to show that there is a certain selling pressure above

In the external market, the Asian market London copper oscillation declined, of which as of 15:35 Beijing time, the 3-month London copper was reported at 7210 US dollars / ton, down 0.
43% on the day, and the short-term copper price rose to around 7200 US dollars / ton into a high oscillation, showing long and short trading cautious
.
In terms of positions, as of June 12, the position of London copper was 347,000, an increase of 1,192 lots per day, and the increase in positions of London copper fell, indicating that the divergence between long and short increased, and the bears temporarily had an advantage
.

On the macro front, the Asian dollar index continued to fall under pressure and is now trading around 93.
36, marking the second consecutive day of declines as the Fed's interest rate hike boots landed
.
At present, the market has turned to the ECB interest rate meeting, focusing on whether the ECB will signal a gradual interest rate hike in the future, which will weigh on
the rebound of the US dollar index.
In terms of industry, Bank of Montreal said it raised its long-term copper price forecast because it is optimistic about demand growth
driven by the development of renewable energy.

In terms of the market, on June 14, Shanghai electrolytic copper spot traded at a discount of 60 yuan / ton - 10 yuan / ton for the current month's contract, and the trading price of flat water copper was 53270-53400 yuan / ton
.
Spot market buying is still weak, spot quotations have been stalemated for nearly a week, and the market maintains yesterday's quotation discount of 60-10 yuan
.
If traders are willing to receive the goods, they can press the price to flat water copper discount 70 yuan / ton, good copper discount 30 yuan / ton, wet copper quotation discount 120-110 yuan / ton
.
On the last trading day of the 1806 contract, the spread of the next month also maintained little change, the market has ignored the impact of the spread on delivery, due to the sufficient supply, the buying interest is weak, the market trend is not clear, after the change of month, the discount may be amplified
.

During the day, the Shanghai copper 1808 contract fell back to 53450 yuan / ton, as copper prices continued to rise and faced the risk of technical pullback, but the short-term copper market rebound pattern remained good, and the operation maintained the main buying of the pullback
.
It is recommended that the Shanghai copper 1808 contract can be backed above 53,000 yuan to bargain hunt, and the target is around
54,200 yuan.