Shanghai copper rebounded and market transactions weakened significantly

On the industry front, top Peruvian government officials marched on Wednesday in hopes of a peaceful resolution to disputes over indigenous communities blocking traffic from copper
mines.
Days of strife have led to the suspension of
shipments from Las Bambas, Peru's largest copper mine.
Peruvian Prime Minister Salvador del Solar said the government commission, headed by three ministers, will engage in dialogue
with the Fuerabamba community through mediators.
Last week, the community leader and lawyer were arrested
on suspicion of extorting copper miner Minmetals Resources.

In terms of the market, Shanghai copper continued to fluctuate in the range of 48200-48300 yuan / ton, the last two trading days before the end of the month, the mentality of the holders is stable, there is no rush to exchange cash, the quotation is more and more firm, the morning market good copper quotation premium 1250 yuan / ton, flat water copper 1100-1150 yuan / ton, the inquiry atmosphere is light, the transaction is calm, only slightly loosened after 10 o'clock, good copper slightly reduced to 1220 yuan / ton, flat water copper can be pressed to 1080 yuan / ton transaction, wet copper around the premium 920 yuan / ton / ton, downstream replenishment is also decreasing
.
Towards the end of the month, in order to avoid disputes and conflicts between supply and demand on invoices, the market transaction has obviously weakened, and the quotation has been stable
.
Some speculators turned to the source of next month's invoices in advance, but the market next month's invoice performance is still unstable, good copper premium 50-100 yuan / ton, flat water copper discount 60 yuan / ton - discount 20 yuan / ton, the receiving group is small, everyone is still cautious
.

In terms of stocks, LME copper stocks stood at 170,725 tonnes on 27 March, down 1,550 tonnes
from the previous session.
As of March 22, 2019, copper cathode stocks on the Shanghai Futures Exchange were 259,172 tonnes, down 5,429 tonnes
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

Shanghai copper fell and rebounded during the day, and the current market is generally concerned about the progress of the new round of trade negotiations between China and the United States, so the overall performance is more cautious, the wait-and-see attitude is strong, and the short-term recommendation is
volatile.
In the spot market, the mentality of holders is stable, there is no rush to exchange cash, downstream replenishment is gradually decreasing, market transactions are obviously weakening, and quotations are stable
.
Some speculators turned to the source of next month's invoices in advance, but the market still showed caution
in terms of the next month's invoice performance and the small receiving group.