Long and short trading cautious copper prices weakened

In terms of the market, Shanghai electrolytic copper spot contract discount of 60 yuan / ton - premium 10 yuan / ton, flat water copper trading price 49400 yuan / ton - 49560 yuan / ton, liter copper trading price 49420 yuan / ton - 49600 yuan / ton
.
The Shanghai copper morning market plunged down, sliding directly to 49,500 yuan / ton shock finishing
.
The enthusiasm of the market morning market inquiry is high, and the holder's morning market quotation discount is 40 yuan / ton - 10 yuan / ton of premium, and the market did not show the expected bargain replenishment
after the sharp fall in copper 。 In the second trading session, copper futures rose at a low level, downstream and traders stopped and waited in the case of unclear plates, holders increased their efforts to sell goods, the market deduced the state of discounting fast, from the morning market of the month ticket good copper premium 10 yuan / ton The first line quickly dropped to a discount of about 30-20 yuan / ton, flat water copper self-discount 40-30 yuan / ton The first line quickly dropped to a discount of about 60 yuan / ton, but downstream consumption is still not positive, wet copper maintained yesterday's quotation discount of 150-120 yuan / ton, The low-priced wet copper of the month's notes is favored
by the downstream.
After eleven o'clock, the discount reappears and expands, and the quotation of good copper can be around 50-40 yuan / ton of discount, and the quotation of flat water copper is as low as 80-70 yuan / ton
of discount.
Although the inquiry has always been enthusiastic, but the transaction is difficult to see warmth in the auction, the downstream continues to buy a small number of orders, cautious into the market, the market's strong willingness to cash may make the spot discount continue to expand
.

In terms of news, the Asian market dollar index is weak and volatile, now trading around 96.
305, overnight European currencies generally weakened, boosted by European fleeing safe-haven funds, the dollar index rose, a slight correction
during the day.

On the industry front, Antofagasta reported that copper production fell 4.
0% year-on-year to 505,500 tonnes in the first nine months of the year, and the company expects copper production to be "particularly strong" in the fourth quarter after a 15.
4% month-on-month increase in copper production to 188,300 tonnes in the third quarter, narrowing its full-year copper production target to 70.
5-725,000 tonnes
.

Intraday copper showed volatility weakening, affected by the strengthening of the US dollar index overnight, the non-ferrous metals market was bearish amplified, non-ferrous metals generally fell in the morning, and picked up
in the afternoon.
Although inquiries in the spot market have always been enthusiastic, downstream and traders have stopped and watched when the market is still unclear, and the transaction is difficult to see warmth
in the auction.
Operationally, it is recommended that the CU1812 contract can consider short order intervention around 52,000 yuan / ton, and the stop loss refers to 55,000 yuan / ton
.