Copper market seasonal demand improves, copper prices may be supported

Shanghai copper fluctuated weakly overnight, and the latest closing price of the main month 1810 contract was 48710 yuan / ton, down 40 yuan, or 0.
08%.

The London Stock Exchange closed on Monday without data, and opened today, at 9:05 Beijing time, the latest quotation of London copper was 6105 US dollars / ton, up 36 US dollars, or 0.
58%.

In terms of the market, Shanghai copper hovered in the line of 48500 yuan / ton, the morning copper plate is high and has not yet declined, the holder quotation premium 30 ~ 60 yuan / ton, flat water copper transaction concentrated around 30 yuan / ton, low price premium 50 ~ 60 yuan / ton of good copper favored by the market, with the decline of the plate, buying interest increased, transaction activity has improved, active buying is mostly traders, after the low-price source of goods is received, the holder raised the quotation to 40 ~ 90 yuan / ton, but the transaction heat cooled, downstream performance stopped, Let the wet copper stalemate at the level of 60 ~ 40 yuan / ton
.
The pattern of external strength and internal weakness has led to a decline in the ratio this week, and the short-term import of copper will decline somewhat, and the proportion of good copper is low, so it has attracted some traders to take the initiative to receive goods at low prices, and pay attention to the change range of spot premium guidance guided by recent ratio changes
.

U.
S.
President Donald Trump said on Monday that he would end the existing trade deal and implement the latest trade deal
with Mexico.
The US dollar continued to weaken as a trade deal with Mexico eased trade frictions and Canada waited to join the negotiations; The continuous decline in domestic copper warehouse receipts and the improvement of seasonal demand in September and October have supported copper prices, and copper is expected to rise
slightly today.