Copper continues to hover low and market confidence is lacking

In terms of external trading, Apanlon copper opened at 5721 US dollars / ton, after slightly testing 5740 US dollars / ton in the morning, due to the sharp fall of offshore yuan in the morning, market sentiment was greatly affected by trade disputes, panic suppressed copper prices down to 5640 US dollars / ton, hitting a new low in mid-2017, short positions increased positively, at the same time, the US dollar fell from a high of 98, copper prices in the second half of the Asian market center of gravity remained stable at 5690 US dollars / ton, after entering the European market continued to perform repair
.
As of 17:30, London copper was trading at $5,700 / ton, down 0.
23%.

In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 50 ~ 100 yuan / ton, a flat water copper trading price of 45870 yuan / ton ~ 46010 yuan / ton, and a premium copper trading price of 45900 yuan / ton ~ 46050 yuan / ton
.
On Friday, the United States once again claimed to impose tariffs on Chinese imports, shorts increased their positions sharply, and the internal and external evenings fell sharply, Shanghai copper gap opened low, the lowest fell to 45,730 yuan / ton, and the Shanghai copper gradually rose to 46,000 yuan / ton after
the low 。 Copper fell below 46,000 yuan / ton, the market inquiry atmosphere was positive, the holder followed the trend to raise the water, the morning quotation premium 60 ~ 100 yuan / ton, good copper source can be pressed in the morning to 80 yuan / ton, the transaction is acceptable, flat water copper concentrated transaction in the premium 50 ~ 60 yuan / ton range; Wet copper remained around 20 yuan / ton, and downstream enterprises bought the dip significantly
.
The import ratio is repaired, and the window continues to open, affecting the receiving sentiment of traders, but the current imported copper inventory has not increased significantly, and short-term holders will still maintain the current willingness
to rise.
In the afternoon, as the overall market maintained a certain degree of activity, it boosted the sentiment of holders to hold prices, and the quotations remained stable
in the afternoon.
In the afternoon, flat water copper reported a premium of 50-60 yuan / ton, a good copper report of 80-a liter of 100 yuan / ton, and the transaction price was in the range of 45930 yuan / ton - 46050 yuan / ton
.

The sharp drop in copper during the day was mainly due to the continued spread of Sino-US trade conflicts, lack of market confidence, and difficult to defend the high, while the RMB exchange rate broke 7 for the first time to hedge the impact of the US tax hike on China and release domestic asset risks, copper prices continued to hover
low.
At present, Shanghai copper closed the doji, lost all moving average support, explored the lower Bollinger band, the MACD indicator green column was elongated, the KDJ indicator was bearish and expanded, and the technical situation was multiple bearish copper prices
.