Market risk aversion continued to fluctuate at a low level in Shanghai

In terms of external trading, the Asian market opened at 5670 US dollars / ton in the morning, and the overall trend performance after the morning opening slowly repaired upward, but the upper resistance to the 5700 US dollar mark, the price hovered at this position, the high reached 5696.
5 US dollars / ton, and the copper price gave up at the end of the Asian market
.
Then entered the European market, basically maintained volatility at the beginning of the session, but then announced that LME copper stocks increased by 61,175 tons during the day, it is expected that due to the impact of the domestic epidemic, domestic consumption is weak, imported copper is difficult to digest, under the pressure of high domestic inventory, there is a situation
of overseas warehouses.
Therefore, copper prices were under this pressure and quickly fell straight down to a low of 5623.
5 US dollars / ton
.
As of 17:30, London copper was 5632 US dollars / ton, down 49.
5 US dollars / ton, or 0.
87%.

In terms of the market, the international market's worries about the epidemic intensified, risk assets generally weakened, copper prices continued to be weak down to 45,500 yuan / ton, the intraday market focus around bills, holders holding the current month's ticket price sentiment is still strong, the opening of the market continues the previous day's quotation discount 170 ~ discount 140 yuan / ton, still the willingness to hold the price unchanged, the market continues to have demand for tickets, the holder's quotation can only be fine-tuned, good copper quotation adjusted around the discount of 160 yuan / ton, flat water copper mostly around the discount of 170 yuan / ton yuan / ton, The wet copper source market concentrated on the discount of 260 yuan / ton
.
The performance of next month's ticket is quite divergent, most of the quotations are concentrated in flat water copper discount 190 yuan / ton, good copper discount 170 yuan / ton, wet copper can be as low as 280 yuan / ton, but for this quotation market transaction is difficult to be active, traders for the next month's ticket expectation price is lower
.

Most of the transactions during the day still revolve around the demand for the current monthly pass, and when the current monthly pass gradually comes to an end, the transaction activity of the next monthly pass can be effectively improved
.
Near the end of the month, the overall inquiry returned to a lighter pattern, and the holders still sold goods, and the current high discount state is difficult to change
.
In the afternoon, copper futures declined, spot continued to be difficult to trade, some holders still quoted in the way of expanding the discount to facilitate the transaction, flat water copper discount 190-170 yuan / ton, good copper discount 170-160 yuan / ton, the transaction price fell to 45260-45340 yuan / ton
.

Shanghai copper continued to decline during the day, mainly due to the continuous spread of the epidemic abroad, the cumulative number of confirmed cases in South Korea has increased to 1146 in the day, and the South Korean government raised the epidemic warning to the "serious" level; At the same time, the number of confirmed cases in Japan, Iran and the United States has gradually increased, and the market risk aversion has continued to heat up; Although the current epidemic control in China has initially shown results, due to logistics and personnel flow restrictions, terminal consumption is difficult to recover, affecting economic operation and also an important factor
dragging down copper prices.
At present, Shanghai copper closed negative, has basically given up nearly two weeks of gains, KDJ indicators under the expansion of the opening continues to expand, technical support is difficult to support
.
Continue to pay attention to the progress of the global epidemic and the progress of domestic resumption of production, and test whether Shanghai copper can stabilize 45,500 yuan / ton
.