Shanghai copper is under pressure to the downside, and the market long and short divergence has increased

Externally: Asia Lun copper oscillation declined, for the fifth consecutive day of decline, of which the 3-month LME copper fell 0.
94% to $4825 / ton at the close of the Shanghai copper market, falling back to the low point since March 2 this year, short-term pullback pressure is greater, the lower support focuses on 4800 US dollars / ton
.

Macro: The Asian dollar index retreated again and is now trading around 94.
8, as short-term market concerns about the downturn in China's economy overshadowed the boost to a weak dollar
.
The market is currently focused on China's manufacturing PMI for March, which will be released on Friday, with both the official and Caixin manufacturing PMIs in February below the 50-boom line, and China ushering in the Qingming holiday
next Monday.

Market: The month-end effect intensified, and few responders
.
Most downstream and traders are hindered by capital factors and have low
willingness to receive goods.
The next month turns to a positive basis, and traders with financial strength receive goods
in an appropriate amount.
The overall copper market fully shows the characteristics of the end of the month, and the transaction is light
.

Today's Shanghai copper 1606 contract fell under pressure to 36860 yuan / ton, weighed
down by Chinese demand concerns.
However, at present, Shanghai copper has retraced nearly 7% from this round of rebound highs, given the recent continuous decline of the US dollar index, and the market expects that China's March manufacturing PMI to be released tomorrow will stabilize and rebound, short-term copper price pullback or provide buying opportunities, it is recommended that the CU1606 contract can back above 36,000 yuan to bargain short, the target is 38,000 yuan
.