Market risk aversion increased, and copper gaping opened low and remained low

Externally, Apanlon copper opened sharply lower at $5818.
5 / ton, and in the morning, due to the resumption of global trade disputes, market panic soared, and the dollar remained above 98 highs, copper prices remained low and volatile
.
Subsequently, the overall center of gravity moved slightly up to 5835 US dollars / ton, and the noon height was 5847.
5 US dollars / ton
.
After entering the European market, the market sentiment was unstable again, and the bears actively increased their positions, testing down at $5802 / ton
.
As of 18:00, London copper was trading at $5,809 / ton, down 0.
9%.

In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 50 ~ 90 yuan / ton, a flat water copper trading price of 46400 yuan / ton ~ 46460 yuan / ton, and a premium copper trading price of 46420 yuan / ton ~ 46490 yuan / ton
。 London copper fell nearly 100 dollars, Shanghai copper only fell 200 yuan / ton to 46400 yuan a line, Shanghai London ratio revised upward, import profit window opened, holders of the morning quotation premium 60 ~ 90 yuan / ton, morning market downstream inquiry positive, but the plate from the low 46250 yuan / ton step back to 46350 yuan / ton above, traders after the previous day a large number of receipts, due to high premium and forced to stop, after ten o'clock, the market quotation gradually loosened, flat water copper leading down to 50 yuan / ton, good copper around the premium 70 ~ 80 yuan / ton of the first line, it is difficult to have room for price reduction; Wet copper is favored downstream, and wet copper is fully elevated to 20~30 yuan / ton first-line quotation, and the supply is difficult to find
.
Imported copper was closed almost in July, causing inventories to grow at a limited rate during the off-season in August, and supply did not expand significantly, so there was little room for pressure on premiums
.
However, at present, the market has lost all moving averages, and the center of gravity may slide to the 46,000 yuan / ton mark, downstream or waiting for a lower and more ideal entry level, and the holders' grasp of the future market premium or more attention to the subsequent inventory increase
.
In the afternoon, due to the situation of individual holders dumping goods in the market, the market showed a low-priced source of goods to attract transactions, and the overall quotation range was lowered
.

The United States continued to threaten to raise taxes on China, the market was once again nervous about Sino-US trade, the decline in stock market futures increased, the global economic weakness and trade tensions made the market risk aversion continue to increase, and copper prices were affected by the gap to open low and remain low
.
At present, Shanghai copper closes the solid big black column, MACD green column continues to lengthen, and the technical situation continues to bear copper prices
.
Wait for the guidance of the external disk to test whether Shanghai copper can hold the 46,000 yuan / ton mark
.