Copper prices are weak and volatile, and they are still expected to find support in the short term

Macro: U.
S.
stocks rose overnight, European stocks fluctuated, crude oil rose, and the dollar fell
.
The PBOC restarted reverse repurchase and reversed repurchase of 30 billion yuan in 7 days
.
In February, the total value of domestic imports and exports was 1.
43 trillion yuan, down 15.
7% year-on-year, and exports were 821.
8 billion yuan, down 20.
6%; imports were 612.
3 billion yuan, down 8%; The trade surplus was 209.
5 billion yuan, narrowing by 43.
3%, of which the decline in exports was mainly caused by
weak external demand.
Today's news is on the short
side.

In terms of the market: the early stage of the fall in the high level of copper in Shanghai in early trading triggered some traders to buy and sell the period for a while; Subsequently, Shanghai copper fell by 300 yuan / ton, which narrowed the current copper discount, thereby discouraged the enthusiasm of
traders to trade.
After the fall in copper prices, some downstream bargain-hunting prices increased
slightly.
However, for the downstream, it is expected that after more price adjustments, buying interest can increase
significantly.

On the whole, commodities have risen recently, and the fall of the dollar and the rise of crude oil have greatly boosted bulls' confidence, and LME inventories continue to shift to the previous period this week, indicating that the market is optimistic about the demand for copper peak season before May, but due to the surplus supply side, copper prices have limited room to rise, and Shanghai copper is expected to fluctuate strongly
in the near future.