Shanghai copper shock rebound, market transaction has not improved significantly

In terms of external trading, London copper opened at 5890 US dollars / ton, the center of gravity of London copper fell at the beginning of the session, along the 5890 US dollars / ton in a narrow range, before the afternoon of the Asian market, the US dollar fell slightly, copper prices slowly climbed to 5909.
5 US dollars / ton was hindered to fall
.
In the afternoon, the dollar index fell below 95, London copper rose sharply to touch 5962 US dollars / ton, entering the European trading session, the dollar rebounded at a low level, London copper was blocked from falling back to the lowest of the day of 5868.
5 US dollars / ton
.
As of 18:00, Lun copper reported 5894.
06 US dollars / ton, intraday rushed back down, standing on the 5-day moving average, the upper shadow line runs between the 10-day moving average and the 20-day moving average, and is currently fluctuating
at 5900 US dollars / ton.

In terms of the market, Shanghai copper runs around the 5-day moving average, the import profit window continues to open for many days, the profit remains at about 300 yuan / ton, and the morning market holders take the initiative to reduce the quotation premium by 20~60 yuan / ton
.
After eleven o'clock, the copper rose to 48,000 yuan / ton line, because it was close to the end of the day and the rate of increase was too fast, the spot premium remained unchanged
for the time being.
The market is sideways, downstream trading has not improved significantly, and trade and speculative buying still want to wait for lower prices and greater discounts to enter the market
.
In the afternoon, the market rebounded, traders favored the flat water copper source of discounts, the inquiry was positive, the willingness to receive the goods was gradually obvious, the holders were unwilling to quote at a low price, and the afternoon transaction price rose to 48020 yuan / ton ~ 48080 / ton
.

In terms of industries, China's import and export data for August showed that consumption was slowly shrinking amid the trade war and weak domestic demand
.
The General Administration of Customs of China announced that China's imports of unwrought copper and copper products in August were 420,000 tons, down 6.
7% month-on-month and up 7.
69% year-on-year, and the monthly imports in August hit the second lowest level in the year, and lower than the average import value of 432,500 tons from January to August this year, indicating that as the RMB continued to depreciate, domestic copper import demand fell slightly, and the cumulative import volume of unwrought copper and copper products from January to August was 3.
47 million tons, an increase of 15.
3%
year-on-year.

For now, the market has ignored China's demand concerns caused by the intensification of the trade war between China and the United States, and although China's export growth slowed slightly in August, the trade surplus with the United States widened to a record high, which may prompt Trump to increase his firepower in the US-China trade conflict; The supply of fundamental refined copper is affected by domestic environmental protection and India's shutdown, and at the same time, September will usher in the peak demand season for cables, superimposed on the continuous reduction of refined copper inventory, and Shanghai copper is expected to continue to fluctuate
.