Copper futures gave up previous gains and waited for guidance from the outside market

In terms of external trading, Apan Lun copper opened at 5381 US dollars / ton, a slight shock After the opening of Shanghai copper, the long flat short into the Lun copper fell to the daily moving average, and quickly fell to 5314 US dollars / ton, after which the decline slowed down, copper prices rose slightly to 5340 US dollars / ton, and the plate fluctuated down to 5320 US dollars / ton
.
Before the close of Shanghai copper, London copper once again showed a rapid decline
.
Entering the European session, copper prices fluctuated around $5280 / ton
.
As of 17:00, London copper closed at $5289/ton, down $101/ton, or 1.
87%.

Copper prices fell sharply during the day, falling below the $5,300 mark, mainly affected by oil price fluctuations
.
As tensions between China and the United States continue to ferment, global concerns about international trade have risen, and market risk appetite has
plummeted.
Considering next week's holiday, some investors fled in profit, exacerbating the decline in oil prices and dragging copper prices down
.
Intraday copper closed negative, has now given up most of the week's gains, KDJ three-line cross downward, technical bearish copper prices
.

In terms of the market, intraday Shanghai copper gave up most of the gains in the week, and copper prices fell back to the 43,600 yuan / ton line, down more than 800 yuan / ton
.
The morning quotation is 150 ~ 170 yuan / ton of premium, good copper concentrated transaction at 160 yuan / ton, flat water copper reduction premium 150 yuan / ton, wet copper source quotation is more than 110 ~ 130 yuan / ton
.
The decline in the market is stable, the holders do not have the previous day's sharp dumping sentiment, some downstream bargain entry market replenishment, traders intend to lower the premium level, but there is no room for a significant price reduction in the previous day, so it is slightly cautious, the spot quotation range is only around 10 yuan of the price difference, the overall transaction market conditions show a wait-and-see cautious attitude
。 In the afternoon, the market continued to slide at the 43500 yuan line, the end of the session fell below 43400 yuan / ton, closed at the lowest point of the day, the spot quotation was stronger earlier, the holders clearly showed signs of selling and raising prices, in the afternoon, flat water copper reported a premium of 160-170 yuan / ton, good copper premium 170-180 yuan / ton, the transaction price fell to 43640-43760 yuan / ton
with the plate.

The latest 2020 government work report did not set a specific GDP growth target, confirming the market's expectation
that the economy will be seriously damaged.
In addition, the rise in risk sentiment in recent days has weighed on copper prices
, as tensions between China and the United States have further escalated, and global investors are worried that the trade relationship between the two countries has deteriorated again and hurt the economy.
Falling oil prices also dragged copper prices down during the day
.
Fundamentals have not changed much
.
Shanghai copper closed negative during the day, giving up the previous three days' gains, MACD red column contracted significantly, close to the 5-day and 10-day moving averages below, waiting for external guidance, testing whether Shanghai copper can hold the 43000 mark
.