Copper maintained a high volatility pattern

In terms of the external market, Yapanlon copper opened at 5852.
5 US dollars / ton, after the opening as the market gradually digested last night's Fed's dovish statement and the favorable decline in crude oil inventories, a small number of long positions closed, the overall center of gravity moved down slightly, the Asian session around the daily average of 5940 US dollars / ton to do a narrow range of oscillations with an amplitude of no more than 18 US dollars / ton, and then entered the European market, the initial test of the low of 5929 US dollars / ton, but because the US dollar fell below the 97 mark, copper price performance has been boosted, slowly oscillating to test 5965.
5 US dollars / ton, As of 17:30, London copper was at $5955 / ton, down 0.
24%.

Overnight base metals generally rebounded, copper prices returned above 46,000 yuan / ton, rebounded to 46,400 yuan / ton line, copper prices rose nearly 700 yuan / ton
。 When the low level of the plate hovers, downstream and traders are more active in buying, after the rebound of the plate, the market buying strength weakens, the morning holder quotation premium 80 ~ 120 yuan / ton, the market under the premise of high saturation, the transaction is difficult, the holder takes the initiative to lower the quotation, flat water copper concentrated transaction in the premium 60 ~ 70 yuan / ton, good copper held steady around the premium 100 ~ 110 yuan / ton, wet copper to maintain the characteristics of low price of goods, the transaction in the discount 10 ~ liter 10 yuan / ton
。 The uncertainty of the macro environment has increased, consumption is difficult to block the market alone, the high level inhibits some downstream buying sentiment, the enthusiasm of market transactions is weakened, and the transaction heat is obviously not as good as yesterday, and then there is a deadlock pattern
.
In the afternoon, due to the narrow range of the market, the overall market sentiment remained deadlocked, the market quotation remained stable, and good copper rose slightly
.

At present, the market focuses on the dynamics of interest rate cuts in the United States, and the slight wind and grass on the macro have a greater impact on the price of the market, and the market is weaker on the dollar as Powell's dovish comments the previous day reinforced the market's expectations for this
month's interest rate cut.
At present, the MACD red energy column has reappeared, and the technical indicators have been favorable
.
Wait for the guidance of the US dollar and crude oil to test whether London copper can test and stand firm at $5960/mt
.

Shanghai copper still maintained a high volatility pattern during the day, basically around 46560 yuan / ton, mainly due to the Fed's dovish remarks to raise market interest rate expectations, the US dollar broke through the 97 mark, and continued to fluctuate low, coupled with the recent reduction in crude oil inventories, oil prices continued to rise during the day, which was good for copper prices, and the macro level boosted copper prices in the short term
.