Shanghai copper fluctuated slightly and basically held the overnight gain

Externally, Asian copper rebounded weakly, with the 3-month LME copper rising 0.
53% to $4679/mt at the close of the Shanghai copper market, but the current London copper is still running below the moving average group, indicating that the upper selling pressure is heavier, its performance is slightly weaker than Shanghai copper, and the daily closing price is close to the low set on April 11 of the year
.

Macro: The non-ferrous metals market has strengthened due to a strong rise in ferrous metals in Asia, but the increase has been relatively limited, as the US dollar index has maintained a relatively strong position and is now trading around 94.
4, thus putting a greater pressure
on non-ferrous metals.

In terms of market: Shanghai electrolytic copper spot reported a discount of 80-40 yuan / ton during the day, and the transaction price of flat water copper was 35550-35650 yuan / ton
.
After the delivery month, the current copper market premium quotation continued to be firm, and the supply did not amplify
.
Market trade is active, downstream buying is indifferent, intending to wait for the cheap supply after delivery, but the market is in a tug-of-war state or continuation
.

Overall, Shanghai copper 1607 oscillation rebounded to 35900 yuan / ton, but the rebound strength is significantly weaker than that of ferrous metals, and copper prices are still running below the moving average group, indicating that the upper selling pressure is heavier, and it is difficult to attract funds to actively go long
.
It is recommended that the Shanghai copper 1607 contract can still hold short orders cautiously below 36,300 yuan, and the target is 35,100 yuan / ton
.