The market is more cautious, and copper prices remain volatile

In the external market, the Asian Copper Oscillation rose slightly, of which as of 15:30 Beijing time, the 3-month LME copper was reported at 6865 US dollars / ton, up 0.
62% per day, still caught in the oscillation finishing platform
of the week.
In terms of positions, on May 17, the position of London copper was 314,000, a daily decrease of 3,000 lots, and the decline in the past week showed that long and short trading was repeated
.

In terms of the market, on May 21, Shanghai electrolytic copper spot reported a discount of 50 yuan / ton - 20 yuan / ton for the monthly contract, and the transaction price of flat water copper was 51140-51240 yuan / ton
.
Shanghai copper rose to around 51300 yuan / ton, bullish sentiment made the willingness of holders to hold up the price strengthened, good copper in the morning market is reported as a premium, and good copper traded at about 10 yuan / ton, and then there was no discount quotation in the morning session, flat water copper self-discount 30 yuan / ton quotation fell to 50 yuan / ton, the transaction is obviously not as good copper
.
On Monday, the copper market was still cautious, trade activity was insufficient, downstream continued to demand procurement, and the market continued to show the characteristics
of supply and demand tug-of-war.

On the macro front, the Asian dollar index continued to rebound, now trading around 93.
95, hitting a high of 94.
031 in the day, hitting a new high since December 13 last year, as the agreement reached in Sino-US trade talks strengthened market confidence in the dollar
.

On the industry front, Vedanta Resources Plc halted its copper smelter operations at South India, one of India's largest copper smelters, and copper prices in India rose
.
The smelter has a predominantly 35% share of the Indian copper market, mainly exported to Gulf and Asian countries
.
This has been closed for more than 50 days
.

During the day, the Shanghai copper 1807 contract oscillated and rebounded to 51370 yuan / ton, still running at the intersection of moving averages, indicating that long and short trading is cautious
.
In terms of operation, it is recommended that the Shanghai copper 1807 contract can be sold high and low between 50900-51600 yuan / ton, and the stop loss is 350 yuan / ton
each.