Demand expectations are optimistic Shanghai copper main force slowly rising

In terms of the market, the Shanghai copper continued to rebound strongly during the day and the market was closed, following the previous day's rush of 43,000 yuan / ton, the day continued to rush to more than 43,500 yuan / ton, up more than 500 yuan / ton, an increase of nearly 1.
5%, holders to high cash exchange, although the morning market to 120 ~ 140 yuan / ton to start the quotation, but soon there was a tide of price reduction, flat water copper took the lead to drop to about 110 yuan / ton, good copper surface top in the premium 130 yuan / ton, but the market is lack of interest, few transactions; Entering the second trading stage, flat water copper has a premium of 100 yuan / ton, good copper price adjustment premium of 120 yuan / ton, but the actual transaction in the cautious wait and see can still be pressed price, especially by the end of the afternoon market, has been heard quotation premium 90 ~ 110 yuan / ton, the downstream purchase volume is less, wet method as low as 60 yuan / ton
.

The LME was closed due to the bank holiday, the Shanghai copper rushed higher, the actual transaction of the market was more wait-and-see, the seller took the initiative to exchange cash and sell the source, and strive to complete the transaction, the buyer still showed a stop, and the transaction showed the characteristics
of oversupply over the weekend on the weekend 。 In the afternoon, the market rose by 200 yuan / ton from the end of the afternoon market, and has steadily risen to 43700 yuan / ton on the line, the holders continue to maintain positive quotations and show the willingness to exchange cash at a low price, but the market is still afraid of heights and caution, and most of the weekend time has no intention of entering the market, flat water copper quotation 90-100 yuan / ton, good copper premium 100-110 yuan / ton, the transaction price has been raised to 43640-43820 yuan / ton
.

The copper-related import data released by the General Administration of Customs shows that China's copper production has further recovered, and the social inventory of the three places has continued to decline, indicating that the domestic copper consumption situation is optimistic
.
On the supply side, Chile's copper production rose 4.
2% year-on-year in March, and Codelco, the world's largest copper miner, rose 14.
8% year-on-year to 147,600 mt
in March.

Concerns about tight copper supply have eased, limiting copper price growth
.
At present, Shanghai copper is closing in the sun, and the 60-day moving average has also turned from pressure level to support level
.
The technical perspective is positive for copper prices
.
The LME is closed during the day
.
Pay attention to the change in non-farm payrolls in the United States in April and the unemployment rate in April to test whether Shanghai copper can continue to rise
.