Market risk aversion reignited and copper waited for guidance from the outside market

In terms of external trading, Apanlon copper opened high at 5866.
5 US dollars / ton, after the morning opening there was almost no large fluctuation, the Asian market fluctuation range was only 12 US dollars / ton, the afternoon high was 5870 US dollars / ton, until the European session, copper prices began to fall off a cliff, due to the recent tariff increase operation in the United States and the stalemate in Sino-US relations, stimulating the market risk aversion to rise, copper price center of gravity quickly fell to around 5835 US dollars / ton, low to 5830 US dollars / ton
.
Subsequently, the Eurozone PPI data was released steadily, and copper prices showed a performance of temporary stabilization at a low level and a return to a low level
.
As of 18:00, London copper closed at $5848.
5/ton, down 0.
14%.

In terms of the market, Shanghai copper fell to 47,000 yuan / ton in the first line, copper fell and holders rose to a stronger mood, the morning market inquiry actively quoted a premium of 110 ~ 130 yuan / ton, some flat water copper can be pressed to 100 yuan / ton, good copper in the premium of 120 yuan / ton, ushered in a wave of positive trading, low-priced sources still attract some traders to buy
。 The early trading is acceptable, but it is difficult to find a low-priced source when entering the second trading session, the quotation of flat water copper is stable at 110 ~ 120 yuan / ton of premium, and good copper is stable at 130 yuan / ton, the transaction is not as active as the morning market; Downstream to maintain rigid demand, although wet copper also intends to follow up, but some brands of market recognition is low, the quotation stays at 20 liters - 30 yuan / ton of water, and the brand of better wet copper tends to rise steadily to 40 ~ 60 yuan / ton
.
The intraday market fell slightly and pulled back, and the market trading enthusiasm improved, but it was still dominated by traders leading the rise in water, and the short-term premium will remain stable and
upward.
In the afternoon, the market gradually turned to a stalemate, and because the low price received in the morning was acceptable, the holders firmly raised the quotation trend, and the afternoon transaction turned weak
.

During the day, the center of gravity of Shanghai copper moved down, returning to around
47100 yuan / ton.
The main reason is that the global trade situation disturbance continues to ferment in recent days, the United States continues to impose additional levies on the European Union and France, coupled with the recent reappearance of Sino-US trade disturbances, market risk aversion has rekindled; In terms of macroeconomics, due to the poor manufacturing data in the United States, which also triggered global worries about the overall macroeconomy, Shanghai copper was affected by the high level of
decline.
At present, Shanghai copper closed negative, and has fallen below a number of moving average support, MACD red column has shortened, technical higher is still weak
.
Wait for the guidance of the external market to test whether Shanghai copper can continue to hold the 47,000 yuan / ton mark
.