Copper prices are still facing short-term moving average pressure or remain weak and volatile

Externally, LME March copper opened slightly lower at $6,771.
5 in the morning, after which the price rebounded, hitting a high of $6,856 in the afternoon and closing at $6,851, up $89, or 1.
32%.

In terms of the market, the copper price of Yangtze River Nonferrous Network 1# was reported at 50,760 yuan / ton, down 850 yuan, with a discount of 40 - 20 liters; Guangdong spot 1# copper price was 51020 yuan / ton, down 830 yuan; Yangtze River spot 1# copper price reported 50800 yuan / ton, down 820 yuan, premium 20-40; Shanghai spot 1# copper price was 50770 yuan / ton, down 850 yuan
.
At the beginning of the month, the market sold more goods, affected by VAT, spot from high premium back to a slight discount, copper prices after the sharp fall of the market more wait-and-see, temporarily not in a hurry to replenish, the later quotation discount back behind, trading slightly improved but the overall trading is general
.

In terms of news, although China's manufacturing prosperity index climbed in April, but for the overall demand side driving effect is limited, today's commodity market driven by black bullish atmosphere, non-ferrous metals more staged a rebound trend, but because of signs that the US economy may accelerate, pay attention to the Fed policy statement later, while Sino-US trade war concerns have not been eliminated, macro uncertainty or price still repeated
.

From the perspective of futures, the main MACD golden cross and KDJ dead cross of Shanghai copper, the price temporarily returned to the support of 51,000 yuan, but the upper gap has not been filled, still facing short-term moving average pressure, or maintaining weak shock operation
.