Commodity markets are under greater pressure and there is little support below copper

At 15:00 Beijing time, London copper quoted $5,974 / ton, down $71, down 1.
18%.

In terms of the market, the domestic spot copper price fell, the quotation of the holder was relatively firm, the willingness to receive goods downstream was not strong, and the overall transaction performance was cautious
.
Guangdong spot 1# copper price reported 48990 yuan / ton, down 580 yuan; Yangtze River spot 1# copper price reported 48970 yuan / ton, down 560 yuan, premium 100 - 120 liters; Shanghai spot 1# copper price was reported at 48900 yuan / ton, down 610 yuan / ton
.

On the macro front, the dollar index closed higher, once approaching the 97 mark during the session, refreshing a new high in more than 13 months, the Turkish financial crisis spread, market sentiment continued to escalate, the offshore yuan rose as high as 6.
9583, base metals, precious metals, crude oil, U.
S.
stocks and European stock indexes all fell sharply, the fear index VIX rose more than 24%, and the MSCI emerging market index fell more than 20% since the end of January this year, entering a technical bear market
.
There is information that Qatar has pledged to invest $15 billion
in Turkey.

In terms of industry, Chile's Escondida copper mine has agreed
with the miners' union on a new labor contract.
Meanwhile, Chile's Caserones Copper Miners' Association voted to accept management's proposed preliminary salary changes, which have been significantly adjusted
.

On the whole, the currency crisis caused by Turkey may spread to the entire emerging countries, the US dollar index is thriving, the RMB is constantly depreciating, commodities and stock markets are facing greater pressure, while the risk of the world's largest copper mine strike is weakened, there is little support below copper prices, Shanghai copper or weak operation, mainly
short operation.