Shanghai copper afternoon review on December 4

Last night, the center of gravity of the internal and external markets shifted downward, mainly due to the renewed disturbance of the trade situation, Trump once again showed that he was not in a hurry to resolve global trade disputes, and used tariff weapons against Europe, South America, China and other places, copper prices fell
back.

At present, trade disputes have once again become the key driving factor leading the trend of copper prices, the globalization of trade disputes is not conducive to the economic recovery of Europe and other countries, market risk aversion has also heated up, CMX gold price rose 1.
04% in a single day, and regained a high of 1487 US dollars / ounce, putting pressure
on copper to rise.
At the same time, OPEC's production reduction strategy has been uncertain, but also caused market concerns about demand, Russian oil production has been higher than the agreement target, the overall higher oil prices will form a pressure on expectations, the current U.
S.
crude oil is still hovering at a low of 55, copper prices are affected by the linkage is difficult to perform
well.

At present, Shanghai copper closed negative, below has lost all moving average support, KDJ bearish expansion, copper prices are expected to continue to maintain low volatility today
.
In terms of spot, due to the sharp decline in market prices, it is expected that the market receiving sentiment below the 47000 mark will improve, and holders are given reasons to raise prices, and it is expected that spot premiums will rise
today.
It is expected that today's Shanghai copper 46800-47200 yuan / ton, spot premium 120-liter 150 yuan / ton
.