Shanghai copper narrow fluctuation The pattern of low volatility has not changed

In terms of external trading, Asian Lun copper fell under pressure and was unable to rebound, of which as of 15:30 Beijing time, 3-month London copper reported 6127 US dollars / ton, down 0.
76% daily, close to the low point set on July 19 this year, the current copper price effectively fell below the moving average group, short-term vigilance technical selling increased
.

In terms of the market, on August 6, Shanghai electrolytic copper spot contracts reported a premium of 50 yuan / ton - 90 yuan / ton of water premium, and the trading price of flat water copper was 49250-49330 yuan / ton
.
The renminbi has depreciated to more than 6.
9 on Friday, imported copper imports are under pressure, it is difficult to have a predictable source of goods entering the market in the short term, holders maintain a further price trend, the morning market continued last Friday's quotation premium of 50-80 yuan / ton, active inquiry, positive transactions
.
Holders took the lead in raising copper to 90 yuan / ton, good copper trading gradually cooled down, the market turned to increase the level of flat water copper quotations to 70 yuan / ton, buying to maintain enthusiasm, wet copper quotations flat water - 30 yuan / ton, downstream buying is limited
.
The source of low-premium water supply is still attractive, and most of the receivers are traders, and the price difference in the next month is in the range of 100-110 yuan / ton, and the short-term spot premium directly tends to the level
of 100 yuan / ton.

On the macro front, although the Fed's July non-farm payrolls data fell short of expectations, the Asian dollar index extended its rally and is now trading around 95.
27, close to the high of 95.
652
set on July 19 this year.
In addition, China retaliated on Friday, imposing tariffs of up to 25% on 5,207 U.
S.
tariff lines, further escalating
the Sino-US trade war.
In terms of industry, because China's imports of copper concentrate from the United States account for only 3% of the total, the impact of China's tariffs on copper concentrates originating in the United States is limited
.

During the day, the Shanghai copper 1809 contract oscillated to 49370 yuan / ton
.
Against the backdrop of undecided results of the Chilean copper mine strike and persistent concerns about the Sino-US trade war, the low-level oscillation pattern of the copper market has not changed
.
It is recommended that the Shanghai copper 1809 contract can be sold high and low between 50,000-49,000 yuan / ton, and the stop loss is 450 yuan / ton
each.