Copper prices rose and retreated, but the center of gravity continued to move upwards overall

In the external market, Apanlun copper opened at $5781/ton in the morning, and soon after the open, it slightly tested the low of $5777.
5/ton, but the low short position closed positively, and then the price went all the way higher
.
At noon, it has broken through the $5,800 integer mark, and reached an intraday high of $5,818 / ton
at the end of the Asian session.
During the European session, copper prices showed weak upward performance, and soon after fell back below $5800, testing all the way down $5777.
5 / ton
.
As of 18:00, London copper was $5,788/ton, up $23/ton
.

In terms of the market, Shanghai copper continues to narrow up and down the dilemma, the spot market in the context of high inventory is difficult to digest, the morning market quotation directly pointed to the discount of 200 yuan / ton, good copper since the discount of 160 yuan / ton has been a lack of response, so consciously close to flat water copper, narrow the price difference
with flat water copper.
In the second trading session, good copper has a discount of 190 yuan / ton quotation, at this time the flat water copper has been greater than the discount of 200 yuan / ton, the quotation to the discount of about 210 yuan / ton, wet copper is close to the discount of about 300 yuan / ton
.

In response to the "two-handed" policy recently actively implemented by local governments, a series of convenient transportation measures such as registration, inspection and safe release have been implemented in the Yangtze River Delta region to encourage the willingness of downstream enterprises to resume work, and the enthusiasm of downstream inquiry has increased, and the willingness of some enterprises in Jiangsu to enter the market has also improved
significantly.
However, due to high inventory, it is difficult to improve short-term digestion, and it may be difficult to stop the pace of expansion of spot
discounts.
In the afternoon, the plate continued to rise slightly, although the discount is still expanding slightly, flat water copper discount 220-200 yuan / ton, good copper discount 200-190 yuan / ton, but the transaction price has fully stood 46000 yuan / ton to 46050-46120 yuan / ton
.

During the day, the performance of Shanghai copper soared and fell, but the overall center of gravity continued to rise, mainly because the market's worries about the current domestic epidemic gradually weakened, because the current epidemic control progress is generally good, Hubei except Wuhan area of the new cured and discharged cases have been more than the new confirmed cases for four consecutive days, indicating that the control effect of the epidemic in Hubei is also gradually emerging, and at present, most of the countries except Hubei, Wenzhou and other hard-hit areas, most of them have gradually completed the resumption of work, according to the National Health Commission, some large economic provinces and cities above the scale of industrial enterprises resumption rate of more than 50%, It shows that production has gradually recovered, confidence in the capital market has been boosted, and Shanghai copper continued to fluctuate upward
during the day.
At present, Shanghai copper closed small Yang, MACD turned red from green column, technical upside still has some space, continue to pay attention to domestic social finance data and Federal Reserve meeting minutes, test whether Shanghai copper can stand at a high level
of 46500 yuan / ton.