During the market optimism digestion period, the center of gravity of copper was basically stable

Externally, Apanlon copper opened at 5923.
5 US dollars / ton, after testing 5924 US dollars / ton in the morning, due to the global trade situation again, and the market gradually digested last week's favorable trade, London copper under pressure daily average of 5915 US dollars / ton, the center of gravity slowly declined, and the $5900 mark was still supported
.
Entering the European market, the release of British industrial and other economic data performance is not satisfactory, coupled with the market's concerns about crude oil demand, the market hedging shifted again, gold in today's performance higher, so copper prices fell sharply after the emergence of the European market, fell below the $5900 mark, tested down $5862.
5 / ton
.
As of 17:30, London copper closed at $5,867 / ton, down 0.
91%, the dollar index was at 98.
27, and U.
S.
crude oil was at $55.
64 / barrel
.

In terms of the market, Shanghai copper is under pressure at 47,100 yuan / ton
.
The window for imported copper continued to close, and Shanghai inventories continued to decline
.
The morning market quotation premium 80 ~ premium 110 yuan / ton, the market price willingness is more resolute, few take the initiative to reduce the quotation, and traders still have the willingness to receive goods, but the target price in flat water copper premium 70 yuan / ton, good copper premium 90 yuan / ton, but low price source is difficult to find, the actual market shipments are still concentrated in flat water copper 80 yuan / ton, good copper premium 100 ~ 110 yuan / ton, almost no price difference space, traders are difficult to do
.
The downstream still maintains rigid demand, and wet copper maintains a premium of 20 ~ 40 yuan / ton quotation
.
The intraday market has the willingness to receive goods at a low price, but the willingness of holders to hold prices is clear, and the market performance gives up some of last week's gains, and spot quotations show a deadlock
.
The narrow range of copper in the afternoon period has not changed, and spot quotations have not changed, and there is still no sign of
lowering the premium.
In the afternoon, the flat water copper quotation premium was 80-90 yuan / ton, the good copper maintenance and stability premium was 100-110 yuan / ton, and the mainstream market transaction price was 47150-47210 yuan / ton
.

The intraday disk fluctuation range is small, the center of gravity is basically stable around 47100 yuan / ton, mainly because trade optimism has gradually been digested by the market, and OPEC Secretary-General issued an optimistic statement on the 2020 outlook, diluting the market's expectations for OPEC to reduce positions sharply, crude oil fell to around 55.
7 within the day, copper prices were hindered
by the linkage impact.
At present, the market optimism is digested and returned to rationality, at present, Shanghai copper closed the entity big black column, and Europan Lun copper has broken the 5900 US dollars / ton mark, waiting for external guidance, test whether Shanghai copper can hold the 47000 yuan / ton mark
.