After many attempts without success, copper prices continued to decline

In terms of external trading, London copper Asian session opened high and low, morning London copper opened at 6199 US dollars / ton, the opening copper price was sorted out in a wide range, up to the intraday high of 6210 US dollars / ton, but due to the current industrial profit data released by China is less than expected, the market is worried about the slowdown of China's industrial growth, the downward pressure on the domestic economy increases, copper prices are under pressure, directly fell below the daily average, the center of gravity fluctuated downward, at noon, copper prices remained at 6184 US dollars / ton up and down, but because the US index still maintained a strong trend, failed to stop the decline, Copper prices then fell directly to the intraday low of 6152 US dollars / ton, during the period to try to recover 6182 US dollars / ton, but failed to stand, at the end of the Asian session, bears closed their positions on the low, copper prices gradually rose, European session 16:40, copper prices climbed to 6186 US dollars / ton, then the US index rushed to 96.
67, copper prices fell back to 6160 US dollars / ton, but due to the strong upward trend of the US index failed to maintain stability, giving up gains, copper prices straight up, as of 18:00, copper prices closed up 6201 US dollars / ton
。

In terms of the market, Shanghai copper around 50,000 weak trend, copper prices remain low volatility, near the end of the month spot market buying is still weak
.
The spot quotation has been expanded from 100~80 yuan / ton discount to 120~100 yuan / ton of discount, and then there is a gradual transaction, and the spot discount underwater expansion has not attracted downstream to replenish the market
.
In the second trading session, in the case of downstream consumption is still weak, even traders enter the market is very little, flat water copper adjusted to a discount of 140 ~ 130 yuan / ton, good copper quotation discount 110 ~ 100 yuan / ton, market shippers, wet copper from the discount of about 190 yuan / ton to about 230 yuan / ton, the source of goods still has room
for price reduction.
The decline in spot discount continues to expand, mainly due to the increase in inventory, weak market consumption, and difficult to increase the activity of the trade market.

In the afternoon, the basis gradually narrowed to about 70 yuan / ton in the next month, and the holders unilaterally narrowed the discount, and the quotation rose, but it made the transaction more difficult, and the willingness to take goods downstream was light
.

Intraday Shanghai copper main force closed doji, the center of gravity moved down again, directly under pressure on the 20-day moving average, copper price center of gravity pressure Bollinger track middle rail, MACD green energy column is still expanding, the position continues to remain below 500,000 lots, indicating that it has failed to win the favor of investors, because the current London copper center of gravity has fallen below the Bollinger track middle band, pay attention to the copper price performance of the Bollinger track, wait for external guidance, test whether Shanghai copper can hold 49500 yuan / ton
.