The news is short, and Shanghai copper is mainly sorted out at a short-term low

Externally, London copper opened at 4653 US dollars / ton, the Asian session London copper Shun daily moving average shock strengthened, touched as high as 4660 US dollars / ton, blocked at the 5-day moving average, the euro continued to fall during the European session, the dollar passively rose to 98.
606, bulls have left the market, copper prices under pressure gradually away from the daily moving average, down to seek Bollinger Road lower band support, as of 17:30, London copper reported 4636 US dollars / ton, crude oil reported 50.
69 US dollars / barrel, The U.
S.
index reported 98.
569, intraday London copper under pressure to fall continue to test the lower band of Bollinger Road, no macro data in the evening, the dollar is still strong, is expected to maintain range volatility, from the disk point of view, Bollinger Road opening downward, technical bearish, London copper still has continued downward pressure
.

On the macro front, the dollar rose and crude oil fluctuated
highs.
The depreciation of the renminbi continued after the National Day
.
The offshore yuan in Asia-Pacific quickly extended its losses after falling below the 6.
76 mark in early trading, updating a new low in more than six years at 6.
7637
.
The market believes that although the central price of the renminbi fell below 6.
7, the depreciation was relatively small
compared to the currencies of developed economies and other emerging economies.
The message is empty
.

In the market, Shanghai copper consolidated at a low level, and copper quotations rose sharply driven by speculative buying
.
At the opening of the market, the holder tentatively quoted that good copper premium was 170 yuan / ton, and flat water copper premium was 150 yuan / ton, which was quickly digested by the market, especially low-priced flat water copper
.
Before the first section of the market was closed, the quotation of flat water copper had reached 170 yuan / ton, which was the same
as the quotation of good copper.
When Pingshui copper reported a premium of 180 yuan, the quotation of good copper changed to passive push up to active price adjustment, and after easily crossing the premium of 200 yuan / ton, the speculative enthusiasm was higher, all the way to 220 yuan / ton
.
Although most downstream people are cautious about the sharp rise in premiums, they are still forced to accept high prices of wet copper
in a bullish atmosphere.
The quotation of wet copper within the day was small, so that the quotation of this part of the copper eventually rose to 170 yuan / ton
.
In the afternoon, the market rose, but the holders were firm in the morning market high premium quotation, the transaction price rose with the market to 37350 yuan / ton -37430 yuan / ton, although the downstream inquiry is more but the transaction is less, the enthusiasm for finding goods in the afternoon cools down, and the transaction is wait-and-see
.
Middlemen are still the main force in active transactions and are an important driver of rising
premiums.
Next week, copper is still going higher
.

On the whole, the US dollar maintained a high level to put pressure on copper prices, but the RMB exchange rate continued to depreciate and the low inventory of the two markets supported domestic copper prices, on the supply side, the global copper market is still oversupplied, demand is better than in previous years, but not as fast as the growth rate of supply, spot, downstream on-demand, the overall transaction is still dominated by Chinese businessmen, and most of the downstream are cautious about the rise in premium
.