Copper is still under pressure in the short term or mainly volatile

On the macro front, although the core PCE price index, the Fed's highly concerned inflation measure, did not meet expectations year-on-year, it still maintained a year-on-year increase of 1.
7%, unchanged from last month and the highest inflation level since October 2014 for the second consecutive month
.
The data shows that although the consumption situation in the United States is less than expected, it still maintains relatively stable and stable growth
.
The market is currently focusing on the unemployment rate data released on Friday and can expect the possibility
of a rate hike in April.

Market: intraday market to traders shipment-based, supply is acceptable, smelters rarely shipped, downstream manufacturers due to the adjournment of the external market, procurement is slightly weak, although it is Monday, but manufacturers replenish the enthusiasm is not large, most of them are based on on-demand procurement, the price trend is not clear, so keep wait-and-see, spot transactions are few
.
According to the survey results, most traders hold a volatile view, and a small number of traders hold a downward view
.

News: Glencore recently announced its production target for 2016, which was only about 100,000 tons lower than in 2015, and the actual production decline of Glencore in 2015 was very small, showing that even in the current market environment, mainstream copper mine suppliers are not willing to reduce production
.
Mines represented by Chile's National Copper Company are trying to reduce costs, and with the increase in overall supply, copper prices are still under pressure
in the medium term.
However, according to the data released by Chile's national copper industry, in 2015, when the cash cost was only 3068 US dollars / ton, there was still a loss, showing that there are certain difficulties in cost reduction and it takes time
.

Yesterday's intraday and night trading, copper prices fluctuated overall, from the current fundamental point of view, short-term copper prices are also difficult to open the space for decline, it is recommended to try short orders to take profit, short-term operation is recommended to wait and see
.
In addition, Chile's largest copper supplier, Chile's national copper industry, still lost money at an average cash cost of $1.
39/lb ($3,068/ton) in 2015, indicating that operational efficiency needs to be improved, but this requires time from the market, so copper prices are expected to be volatile in the short term
.