Copper prices are obviously weak to the upside, and the end of the session continues to slide

In the external market, the Asian market opened at 5679.
5 US dollars / ton in the morning, the market is still worried about the impact of public health events on future global economic growth, gold safe-haven value once again appeared, rushing above 1680 US dollars, so the morning London copper in the morning after testing 5685 US dollars / ton quickly down, the center of gravity fell to around 5650 US dollars / ton, touched a low of 5641 US dollars / ton
in the afternoon.
Later, entering the European market, copper prices showed a slight repair
.
As of 17:30, the price of London copper was 5662.
5 US dollars / ton, down 0.
15%.

At present, affected by the global spread of the epidemic, the market has increased the probability of the Fed announcing another interest rate cut in March, and the employment data will provide guidance for the next interest rate cut operation, which is expected to be negative for market sentiment, safe-haven assets still prefer high, and copper prices are difficult to
recover.

In the market, dominated by market risk aversion, Shanghai copper fell again to 44,800 yuan / ton
.
The morning market quotation is completely narrowed within 100 yuan of discount, the holder put in the tentative quotation, the quotation flat water copper discount 90 yuan / ton was quickly collected, then flat water copper immediately showed the quotation discount of 80 yuan / ton and the quotation remained firm, good copper maintained in the discount 80 ~ discount 70 yuan / ton range, flat water copper transaction accounted for a large proportion, maintain high activity, wet copper with the market quotation narrowed, self-discount 200 yuan / ton followed the discount of about 170 yuan / ton
。 Copper prices fell below the 45,000 yuan / ton mark during the day, the low price of holders continued to narrow the discount, the low-price source of goods is still favored by traders, the downstream performance is actively buying and replenishing the low, and the next week gradually enters the delivery cycle, and the discount will be more obvious day by day narrowing
.
The afternoon quotation remained stable at the morning level, with flat water copper discount 90-80 yuan / ton, flat water copper discount 70-60 yuan / ton, and the transaction price was 44660-44720 yuan / ton
.

Shanghai copper running at a low level during the day, and has fallen below the 45,000 yuan / ton mark, mainly the current global epidemic spread speed acceleration, the global economy has a greater impact, in addition to the Federal Reserve, the European Central Bank, the Bank of Japan, etc.
have also adopted economic policies to hedge the risk of the epidemic, while the economic impact has caused the market to worry about demand, OPEC this year further production reduction appears more urgent, oil prices are difficult to curb the pace of decline, U.
S.
crude oil has now fallen to $46 / barrel, Shanghai copper linkage continues to decline
.
At present, Shanghai copper closed the big negative column, the upper pressure of many moving averages, KDJ indicators formed a dead cross, and the technical point of view copper prices are weak
.
It is expected that in the case of the short-term epidemic is difficult to improve, copper prices will be difficult to rise above
the 45,000 mark.