Market risk appetite cooled and copper prices fell slightly

In the external market, the Apanlon copper gap opened low at 5199 US dollars / ton, and after the opening, it was suppressed by the bears to the lowest point of the day of 5189 US dollars / ton, and then the copper price bottomed out, maintaining a volatile upward trend during the day, touching the highest point of the day at 5240 US dollars / ton
at the end of the Asian session.
Entering the European session, London copper turned down, falling by about $30 / ton
.
As of 16:30, London copper closed at $5215/ton, down $14/ton, or 0.
27%.

Intraday copper opened low and rose slowly, partly making up for the intraday gap, mainly due to a slight easing of concerns about the second wave of the epidemic, while UK GDP and industrial output data were slightly better than expected, coupled with the news that electrolytic copper exports in Zambia in Africa were blocked, driving copper prices to rebound
.

In terms of the market, the Shanghai copper pullback was sorted out at 43,000 yuan / ton line, down more than 500 yuan / ton, the price difference narrowed to about 200 yuan / ton from the previous month, the morning market holders reported a discount of 20 yuan / ton ~ flat water, near good copper flat water, flat water copper discount 20 yuan / ton, the plate fell to 43,000 yuan / around, the willingness to receive goods at low prices was significantly improved, flat water copper can be moved up to a discount of 10 yuan / ton, good copper favor is not as good as flat water copper, basically maintained in the flat water line, the quotation is limited, The quotation of wet copper fluctuates
in a narrow range of 60 ~ 50 yuan / ton discount.

The intraday monthly difference narrowed significantly, the willingness of holders to sell weakened, the discount narrowed rapidly, approaching delivery, the activity of traders increased, and the decline in copper also attracted downstream bargain bargaining replenishment, and intraday trading continued to show a gradual improvement trend compared with the previous two days
.
As the position of the current month's contract gradually returns to the safe range, the reduction range of the current month will gradually narrow after the week, and the spread will slowly narrow in the next month, and the large discount state under the closing shade of the disk will no longer exist
.
In the afternoon, the low level of the plate slowly rose nearly 100 yuan, the price difference in the next month was stable at 200 yuan / ton line, the quotation also tended to be stable, flat water copper discount 10 yuan / ton, good copper flat water, almost no price difference between brands, the transaction atmosphere was suppressed compared with the morning, and the transaction slowly rose back to 43140-43200 yuan / ton
.

Shanghai copper gap opened lower during the day, mainly due to increased market concerns about the possibility of a second wave of the epidemic
.
There was a cluster of infections in South Korea, and American infectious disease expert Fauci also said that the premature lifting of lockdown measures could lead to a further outbreak of the new crown epidemic, and the cooling of market risk appetite weighed on copper prices
.
Positive news in fundamentals, Zambia due to the temporary closure of the Zantan border due to the impact of the epidemic forced to delay copper export business through Tanzania, investors' expectations of copper oversupply have eased, copper prices have gained upward momentum, making up for the intraday gap
.