Market demand is weak, and Shanghai copper fluctuates at a low level during the day

Today's LME copper is volatile and recovers
slightly.
It opened at $5,773.
5 in the morning, rose rapidly after the opening and then bottomed out at $5,773, then rebounded and climbed, rising to a high of $5,810.
5 at the end of the session, and closing at $5,791 during the domestic trading session
.

Market: Today's Shanghai Nonferrous Metals Trading Center (SME), spot copper mainly traded 46810-46990 yuan / ton in the morning, down 345 yuan from the previous working day, the premium was reported at C140-B40 yuan / ton, and the copper spot price index was reported at 46958, down 360.
5
from the previous trading day.
Today's market trading has picked up slightly compared with the previous trading day, with more abundant market supply, more active traders and a small number of shipments from smelters
.
The discount was further narrowed, the quotation of good copper premium, and the willingness of traders to move goods rebounded, but the downstream maintained a cautious attitude, manufacturers maintained a small amount of bargain hunting, and the overall demand was not large
.
The afternoon water is basically unchanged compared with the morning, good copper reported at B20-B40 yuan / ton, flat water copper C80-C70 yuan / ton, wet copper C140-C130 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Gold Trading Center, most traders hold a volatile view, and a small number of traders hold a declining view
.

Macro: US interest rate hikes in March are strong, especially Yellen's speech before sharply boosting market confidence, the US dollar is strong again, commodity prices may suffer some strength
in the short term.
China's February trade data showed a deficit for the first time in three years, with imports soaring and exports falling short of expectations
.
In addition to the weak consumption situation exacerbated by the Spring Festival holiday, the sharp rise in foreign commodity prices also led to a sharp increase in the amount of imports, so this deficit is not sustainable
.
China's import data released by customs said that China's copper imports fell sharply in February, and the Spring Festival holiday factors exacerbated the trend
of slowing demand.

Today's copper prices fell sharply, and the discount continued to narrow, good copper turned into premium, traders shipped positively, the moving situation was acceptable, downstream manufacturers' purchasing enthusiasm was still weak, but the enthusiasm for inquiry rebounded slightly, bargaining on demand, and it is expected that short-term copper prices still have a slight decline space, supporting 46000
.