Copper continues to hit new lows and continues to pay attention to the trends of various countries

In terms of external trading, the Asian market opened high at 5335 US dollars / ton in the morning, touched 5365 US dollars / ton at the open, and then the center of gravity of London copper in the Asian session remained below the daily moving average near the $5300 mark
.
Until entering the European market, due to the impact of the global stock market crash, the general performance of the bulk is under pressure weakening, superimposed on the opening of the European market, the LME announced that the inventory of copper increased by 40,600 tons, and most of the increase was concentrated in Asia, copper prices fell again, soon fell below the key position of $5,300, down to a low of $5,220 / ton
.
As of 17:40, the price of London copper was 5235 US dollars / ton, down 50 US dollars / ton, or 0.
95%.

In terms of the market, the global stock market plunged overnight, the US stock market hit the largest decline since 1987, the market panic intensified, commodities generally plummeted, copper prices led the break, and hit a new low of 42,000 yuan / ton
in three and a half years 。 On the first day after the change of month, the morning market inquiry was positive, the holder quoted a discount of 110 ~ discount of 100 yuan / ton, the market response was cautious, fear of falling psychology spread, spot buying was weak, the holder took the initiative to adjust the quotation slightly to seek the transaction, flat water copper led the downward adjustment, the transaction was concentrated in the discount 130 ~ discount 120 yuan / ton, good copper reported to the discount around 110 yuan / ton, the transaction improved, the wet quotation narrowed to the discount around 160 yuan / ton
.
The decline in the market has not stopped, downstream bargain buying appropriately, traders want to close low discount goods to pay long orders, but it is difficult to suppress prices, bears once again shrouded the market, and the number of cautious people in the market increased
.
In the afternoon, although the plate got rid of the low level of the morning, it still fluctuated sideways, the willingness to receive goods was low, the quotation remained unchanged, and the supply and demand showed a two-light pattern, flat water copper discount 120-110 yuan / ton, good copper discount 110-100 yuan / ton, the transaction price stalemate at 42180-42250 yuan / ton
.

Shanghai copper continued to hit a new low during the day, the low reached 42170 yuan / ton, the current global capital market due to the impact of the epidemic is a panic, the global central bank following the United States emergency interest rate cut has cut interest rates one after another, the International Monetary Fund (IMF) is ready to use $1 trillion of lending capacity to fight public health events, U.
S.
stocks and precious metals markets collectively collapsed, copper price bottom has not yet appeared
.
Continue to pay attention to the trends of various countries and test whether Shanghai copper can hold the 42,000 yuan / ton mark
.