Shanghai copper volatility is strong, the future market still needs to be cautious and wait-and-see

In terms of the market, Shanghai copper stabilized around 49,600 yuan / ton, morning market holders continued the previous day's quotation premium 100-150 yuan / ton, flat water copper premium 100 yuan / ton, good copper premium 140 yuan / ton ushered in a wave of positive trading, low-priced sources still attract some traders to buy, morning trading is acceptable
.
So the holders continued to follow the trend to raise the quotation, flat water copper quotation to 110-120 yuan / ton, and even heard that the quotation premium 130 yuan / ton, good copper quotation premium 160-170 yuan / ton, but the high premium made the market transaction suppressed
.
Wet copper slightly rose at a discount of 60-30 yuan / ton, and the willingness to receive goods downstream was sluggish, and the actual consumption was
weak.
Imported copper continued to lose sharply, and exchange inventories will continue to decline this week, which has made holders look forward
to the upside after entering December.
Although the rebound of the market has brought about a wait-and-see stop downstream, and the firm high-premium pattern of cargo holders has brought supply and demand into a stalemate and tug-of-war, the short-term high-premium pattern is difficult to change
for the time being.

On the news front, the dollar index in Asia was broadly volatile and is now trading around 96.
773, as the Fed minutes barely weakened expectations for a rate hike in December, but increased market expectations for near-neutral interest rates, making the dollar index volatile
.
On the industry front, a trade war between the world's two largest economies, the United States and China, could hit stocks and wreak havoc on commodity prices, but it won't hurt copper demand
.
That's the view
of Nelson Pizarro, CEO of Codelco Chile, the world's largest copper producer.

The intraday Shanghai copper volatility was strong, as the Fed minutes did little to dampen expectations for a December rate hike, but increased market expectations that interest rates would be close to neutral, making the dollar index fluctuate
.
And the current market is generally concerned about the G20 leaders' summit and the Sino-US trade negotiations, during which investors are generally cautious and wait-and-see, and copper prices fluctuate less
.
Operationally, it is recommended that the CU1902 contract can consider selling high and low between 49300-50000 yuan / ton, and the stop loss is 300 yuan / ton
each.