Shanghai copper is slightly resistant to decline in the short term or will continue to operate in shocks

In the external market, the LME copper price in March began to shake, fell to $6782.
5 and then rose, rose sharply to $7112 in the middle of the week and then fell again, closing at $6973 as of writing, up $139.
5, or 2.
04%
during the week.

In terms of the market, Shanghai Nonferrous Metals Trading Center this week copper price main trading range of 50320-51850 yuan / ton, the overall premium range of the future is B160-B330 yuan / ton, this week spot copper prices soared, affected by next month's value-added tax cut, copper prices fully turned into high premium, early week due to the long order delivery trading is acceptable, the price rose sharply in the week after the wait-and-see mood heated up, the willingness to receive goods declined
.
On Friday, when the copper price was low, the premium quotation was still high, but the shippers' shipments were not smooth, and the trading improved slightly after the later downward quotation, and the downstream bargain was slightly replenished before the weekend, and the overall trading of the market was average
.

In terms of news, Sino-US trade relations remain tense, and the two sides have not yet conducted any negotiations
on the tariff issue.
Recently, the United States sanctions ZTE and China have successively encountered double investigations by the United States, China has imposed anti-dumping measures on sorghum originating in the United States, and re-investigated and ruled
on anti-dumping measures on imported pulp originating in the United States, Canada and Brazil.
Affected by this, the main force of Shanghai copper gave up some of its gains on Friday
.

At the beginning of the week, the Sino-US trade dispute eased slightly, the domestic economy in the first quarter was good, coupled with the rise of London aluminum and nickel, the weekly inventory of the previous period fell, copper prices ushered in a rise, non-ferrous metals rose in the week once a collective climax, the market at the end of the week is worried about the escalation of the weekend trade war, bulls have profited out, copper prices in the short term are still subject to macro uncertainties, or repeated
。 From a technical point of view, the price on Weekly K is still above the 60-week line, and the upper side is facing a 20-week line suppression; On the daily K, the Shanghai copper index MACD gold cross, KDJ gold cross, the price fell back to the 5-day moving average, short-term slightly resistant to decline or will continue to operate above 51500 yuan
.