Shanghai copper broke the downward trend, pay attention to control risks

In terms of the external market, the market is bearish atmosphere, base metals collectively plunged, London copper opened at 5730 yuan / ton, Asian session bulls tentatively increased positions, copper prices briefly touched to 5786.
5 US dollars / ton, a false shot after a hasty escape, copper prices plunged, the low broke through the 10-day moving average, the center of gravity moved down to 5645 US dollars / ton, intraday low 5612.
5 US dollars / ton, and then the bears made up for the low level, leading to a stepped recovery of copper prices, as of 17:20, London copper reported 5746.
5 US dollars / ton
。 Intraday copper first suppressed and then rose, the recent Asian session market is bearish, European session warmed up, the overall data released by the United States in the evening is expected to be good, pay attention to the guiding role of data on the dollar and metals, after the influence of Chinese factors is weakened, metals may be able to stop falling and stabilize
.

On the macro front, data released by the US Department of Commerce showed that the revised value of US real GDP in the third quarter was 3.
2%, which was not only better than expected, but also hit a two-year high
.
The analysis believes that the growth of GDP in the third quarter came from the positive contribution of personal consumption expenditures, exports, private inventory investment and federal government spending, and offset the decline
in residential fixed investment and state and local government spending.
However, the dollar has been relatively weak, showing that it has priced in the Fed's December rate hike and the good recovery of the domestic economy
.
There are also OPEC production restrictions and regeneration variables, Iran said that it will not reduce production, will maintain production at the level decided at the Algiers talks, and Iran will affect Saudi Arabia's attitude, coupled with the previous Russia also said that it has no plans to participate in the Vienna OPEC meeting, the expectation of reaching a crude oil production limit agreement has been greatly reduced and oil prices have fallen
sharply.

In terms of the market, Shanghai copper continued to decline, the current copper discount narrowed from the previous day, the morning trading was once quiet, the month-end factor made speculators stop, entering the second trading session, Shanghai copper fell nearly 1,000 yuan, some downstream began to bargain into the market to receive goods, the transaction has improved, the copper discount is further narrowed, the copper price has warmed up slightly after the price of the month, the market transaction is constrained by the factors at the end of the month, and the performance is passive
。 In the afternoon session, the center of gravity of the plate moved down, the holders have few quotations, the inquiry is also few, the discount continues to narrow slightly, flat water copper report discount 90 yuan / ton - discount 70 yuan / ton, premium copper discount 60 yuan / ton - discount 40 yuan / ton, the transaction price is 45400 yuan / ton - 45660 yuan / ton
.
Everyone mainly settles at the end of the month, and the transaction is quite rare
.

Overall, the fundamentals of the copper market have indeed become stronger than before, but do not support copper prices out of the bull market, the early copper price by market sentiment and capital driven by the component is larger, now as the market sentiment gradually returns to calm and the withdrawal of funds, copper prices are so expected to fall, due to the uncertainty of the dollar index and crude oil frozen production, it is still recommended to operate short-term operations, pay attention to risk
control.