Shanghai copper fluctuates and fluctuates Pay attention to China's first-quarter GDP data

In the external market, Asian London copper oscillation declined, of which the 3-month LME copper fell 0.
91% to 4793 US dollars / ton at the close of the Shanghai copper market, partially reducing the overnight gains, but at present, London copper is still effectively stabilized above M60, the short-term rebound pattern remains, and the operating range focuses on 4730-4900 US dollars / ton
.

On the macro front: the Asian dollar index undertook overnight gains and is now trading around 95, limiting base metals gains, and pay attention to the Bank of England interest rate decision and the US CPI for March, whose inflation data will provide some guidance
for the Fed's interest rate decision.
In addition, the market expects China's first-quarter GDP to climb 6.
7%
year-on-year.

Market: On April 14, Shanghai electrolytic copper spot reported flat water - premium water 50 yuan / ton, flat water copper transaction price of 36680-36800 yuan / ton
.
Although the basis of the next month once expanded by nearly 200 yuan / ton, the willingness of the holders to dump the goods is strong, the market imports of copper continue to be sufficient, and the premium is difficult to push up
.
The middlemen looked for low-priced sources, but did not see the flat water copper discount quotation, and the downstream showed rationality and rarely
bought.
The influence of spot support for copper prices is weak
.

Overall, China will release first-quarter GDP data, and whether there will be a new boost to market sentiment will continue to be watched
.
In terms of operation, continue to be not optimistic about copper prices, but recently due to the interference of other commodity sentiment in the market, short positions can continue to wait and see, holding short orders need to be backed by the 20-day line of 37300 yuan to set a stop loss
.