Nonferrous metals fell sharply across the board Shanghai copper fell by a relatively large margin

In terms of external trading, the Asian market opened low at 5651 US dollars / ton in the morning, and after touching 5653.
5 US dollars / ton in the morning, due to the further spread of the flu epidemic around the world, financial market panic soared, global stock markets and commodities plummeted, copper prices showed a 5-consecutive negative trend, all the way down to a low of 5533 US dollars / ton
.
The European session stopped falling, and the center of gravity basically revolved around
$5560/ton.
As of 17:00, London copper was 5552 US dollars / ton, down 103 US dollars / ton, or 1.
82%.

Spot market: the overseas epidemic continues to ferment, market concerns intensify, the non-ferrous sector fell sharply, and Shanghai copper once again fell to 44,600 yuan / ton, down more than 500 yuan / ton from the previous day, a historical low
in the past three years 。 On the last trading day of February, the morning market holders narrowed their quotations to 150 ~ discount 120 yuan / ton, flat water copper maintained a stable discount of 150 ~ discount 140 yuan / ton, good copper maintained a discount of 130 ~ discount 120 yuan / ton, low-priced sources still attracted some traders to buy; Wet copper quotations were divergent, with individual holders offering prices at a discount of 210 yuan/ton, and a small number of sources as low as a discount of 240 yuan/ton
.

Copper fell 7 consecutive negative, the market risk aversion is strong, downstream enterprises are afraid of falling, only the appropriate amount of bargain replenishment, although traders have the willingness to receive goods, but the price is difficult to reach the desired price, so although the intraday market inquiry atmosphere is lively, but the copper price that has not stopped falling and the continuous accumulation of inventory pressure inhibits the activity
of actual transactions 。 In the afternoon, the market fell endlessly, and fell more than 200 yuan / ton from the morning close, from 44600 yuan / ton straight down to 44350 yuan / ton, the end of the session closed has been around 44200 yuan / ton, the holder continued to narrow the discount, the low level is slightly reluctant to sell, the quotation flat water copper discount 130-120 yuan / ton, good copper discount 120-100 yuan / ton, the afternoon transaction price has dropped to 44220-44480 yuan / ton
.

Shanghai copper fell more than a day and has basically given up all the gains since the opening of the market after the Spring Festival, mainly due to the current overseas panic continues to heat up, the scope of the spread of the epidemic is expanding day by day, Japan, South Korea, the United Kingdom, Italy, the United States, the Middle East and other places have a spread trend, and the Italian epidemic has spread to 13 regions, the US NASDAQ index fell 10.
55% in a single day, CMX gold prices continued to rise during the week, to around 1691 US dollars / ounce, non-ferrous metals heard the overall decline in the day, Shanghai copper is also difficult to change the decline
。