Copper prices fell slightly and waited for guidance from the outside market

Externally, Apanlon copper opened at 5804.
5 US dollars / ton, last weekend Sino-US trade negotiations and Brexit issues have made great progress, the opening copper price began to rise after a short-term retracement, copper prices rose to 5820.
5 US dollars / ton at noon, and maintained a high level of consolidation
before the European market 。 After entering the European session, as trade negotiations and Brexit progress brought by most of the bullish was digested, while China's September import and export data still hinted at weak global demand, the pound also fell 0.
5% against the dollar in the morning, the dollar index rebounded significantly, bears began to actively increase their positions, copper prices were difficult to maintain a high level, all the way down to $5770 / ton after stabilizing
.
As of 16:30, London copper closed at $5780.
5/ton, down 0.
39%.

In terms of the market, the Shanghai copper re-rush was blocked along the 47,000 yuan / ton first-line shock sorting, the import window continued to open, the weekend imported copper customs clearance completed centralized storage, the source of imported copper increased significantly, the delivery is approaching, the plate has almost no price difference every other month, the holders are eager to exchange cash, and the number of dumpers is increasing
。 Morning market holders quotation began at 120 ~ 140 yuan / ton, can not be recognized by the market, so the spot premium then shows a rapid downward trend, in the premium 100 ~ 120 yuan / ton short stay in the small transaction, in order to seize the transaction opportunity, the market in the importer's first price reduction of good copper from straight down to premium 90 ~ 100 yuan / ton There is still room for price pressure, flat water copper to 70 ~ 80 yuan / ton to show signs of slow decline, wet copper consumption willingness is low, the source of goods has increased significantly, Even if it is reduced to about 30 yuan / ton, no one cares
.
Approaching the delivery date, the pressure of multiple sources and shipments is difficult to exchange for cash, and the willingness of holders to realize is further strengthened, and the premium tends to the delivery level
.
The downstream generally performed stopping, mainly due to the recent increase in transportation costs under strict logistics control and the cautious sentiment that copper prices are difficult to form an effectiveness breakthrough at 47,000 yuan
.

The overall daily market remained stable at a high level, mainly due to the temporary "truce" of Sino-US trade in recent days and the optimistic outlook for Brexit, market sentiment picked up, good for the copper market to stand higher, but still need to be wary of the news after the digested macro weak situation dragged down the market, the current Shanghai copper closed negative, in the short term pay attention to the 10-day moving average support level below, waiting for external guidance, test whether Shanghai copper can continue to stabilize the 47,000 yuan / ton mark
.