Market sentiment is cautious Shanghai copper fell into range volatility

In the external market, the Asian market London copper oscillation strengthened, the performance was stronger than Shanghai copper, of which the 3-month London copper rose 0.
81% to 4587 US dollars / ton, the current London copper is still running in the recent low oscillation finishing range
.
Last week, Lun copper reduced its position, indicating that long and short trading was cautious, and the sentiment of the copper market was relatively low
.

Macro: The Asian dollar index extended Friday's decline and slipped further to around 93.
6 as the latest polls showed that the U.
K.
Remain vote was slightly higher than Brexit, reducing market risk aversion, which will be released on Friday
.
Industry information: Japan's copper wire and copper cable shipments in May fell 6.
5% year-on-year to 48,600 tons
.

In terms of market: Shanghai electrolytic copper spot reported a premium of 80-120 yuan / ton, flat water copper trading price of 35640-35700 yuan / ton, and the current copper discount quotation was stable
compared with last Friday.
Intraday trading is active among traders, but the market mostly quotes
for the next month's ticket.
The basis narrowed to $30 in the following month, reducing traders' arbitrage enthusiasm
.
Downstream procurement is still on-demand
.
The market is in a state of supply and demand
.

Overall, the Shanghai copper 1608 contract fluctuated in a narrow range to 35460 yuan / ton, which fell into low oscillation for the sixth consecutive day, indicating that short-term copper market long and short factors are intertwined, making investors' operating cautiousness climb.

Moreover, before the results of the Brexit referendum were announced, copper prices, which have strong financial attributes, are more difficult to operate
.
It is recommended that the Shanghai copper 1608 contract can be sold high and low between 35000-35800 yuan, and the stop loss is 350 yuan / ton
each.