Copper prices fell below the main moving average group, and the short-term downside risk increased

In the external market, Asia Lun copper continued to fall under pressure, of which the 3-month LME copper reported 6862 US dollars / ton, down 0.
72% per day, still running at the intersection of moving averages, and the performance was slightly resistant to falling in Shanghai copper
.
In terms of positions, on April 11, the position of London copper was 312,000, an increase of 4,878 hands per day, and the increase in positions of London copper oscillated, indicating that the long-short divergence increased after
the decline in copper prices.

In terms of the market, on April 12, Shanghai electrolytic copper spot traded at a discount of 20 yuan / ton - 40 yuan / ton for the monthly contract, and the transaction price of flat water copper was 50,680 yuan / ton - 50,780 yuan / ton
.
The morning market quotation flat water copper discount 20 yuan / ton, after the plate diving, some downstream bargain picking, buying interest has improved, the quotation up
.
In the second trading session, it was difficult to find a source of discount for flat water copper, and the quotation gradually rose to about
10 yuan / ton.
The market fell to around 50,500 yuan / ton, and the trading stalemate pattern in the previous two days improved
significantly.

On the macro front, the Asian dollar index rebounded and is now trading around 89.
57, effectively running below the moving average group, and U.
S.
Defense Secretary Mattis said that the United States is still evaluating intelligence
on the chemical weapons attack in Syria.
If Trump says that the Pentagon is ready to offer options for a military attack in Syria under appropriate circumstances, the high risk aversion in the market has weighed
on the dollar.

Chile's national copper company Codelco said on Friday that a union worker at its Radomiro Tomic copper mine had agreed to the company's final contract plan
.
Codelco is the world's largest copper producer
.
The union has 744 members, representing the majority of
workers at the mine.
It rejected a new final labor contract last week and was forced into a period of government mediation
.

During the day, the Shanghai copper 1806 contract continued to fall to 50,620 yuan / ton under pressure, and the rebound lacked momentum, as the United States will announce that it will implement a military strike on Syria to suppress market investment sentiment
.
However, at present, copper prices are trading at the intersection of moving averages, and Sino-US trade disputes have been repeated from time to time, and investors still need to be cautious
in operation.
In terms of operation, it is recommended that the Shanghai copper 1806 contract can be sold high and low between 50300-51000 yuan / ton, and the stop loss is 350 yuan / ton
each.