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Futures market: Shanghai copper prices fell
.
The main May contract closed at 47290 yuan / ton, down 770 yuan, or 1.
60%.
At 15:00 on the same day, London March copper quotation was 5811.
50 US dollars / ton, and the internal and external ratio between Shanghai and London was 8.
14, higher than 8.
13 in the previous trading day, and the decline in Shanghai copper was less than that of the London market
.
All contracts were traded 487778 lots, and the position decreased by 3684 lots to 515298 lots
.
The main contract traded 347368 lots, and the position increased by 1558 lots to 220782 lots
.
Macro: crude oil, dollar shock.
After Trump's health care plan was delayed, the market focused on his next move
.
U.
S.
new home sales totaled an annualized total of 592,000 in February, higher than the expected 564,000 and a seven-month high
.
Too many
messages.
Industry: Union groups at BHP's Chilean copper mine Escondida said miners would choose to reinstate their contracts
.
Work is expected to resume on Saturday morning
.
Unions expect it will take two weeks to return to normal output
.
BHP's president said the negotiation process with the union was over and the strike would end
.
Negotiations have resolved differences with the unions and will try to resume construction
of related projects.
The message is empty
.
In terms of funds: the top 20 domestic positions increased by 2151 lots to 115278 lots, and the main positions of long positions did not change much; The top 20 domestic short positions decreased by 567 to 133702, and the main short positions did not change much
.
Intraday capital flows are more neutral
.
On the whole, after a sharp decline in the short-term metal sector, it has generally stopped falling and risen
recently.
The Escondida copper mine may resume work on Saturday, but the Cerro Verde copper miners' strike in Peru may restart, continuing to be positive for fundamentals
.
In terms of spot, the downstream has not seen large-scale entry into the market, and the receipt and delivery of long orders by middlemen is nearing the
end.
Subject to financial pressure, the market is abundant, and it is difficult to substantially increase
the transaction activity.