Shanghai copper volatility weakens The market generally holds a wait-and-see attitude

In terms of spot, on September 27, Shanghai electrolytic copper spot reported a discount of 20 yuan / ton - 20 yuan / ton for the contract for the month, and the transaction price of flat water copper was 50450 yuan / ton - 50500 yuan / ton
.
Shanghai copper under pressure daily moving average, copper price hovering at 50,500 yuan / ton line, the morning market quotation of cargo holders is slightly corrected from the previous day, the market quotation discount of 20 yuan / ton - premium 20 yuan / ton, middlemen are cautious wait-and-see attitude
.
Copper futures are temporarily deadlocked, downstream willingness to receive goods and there is no obvious buying, maintain the rhythm of rigid demand, the price quotation maintains stability, most of the holders have gradually entered the settlement state, the number of dumpers has been greatly reduced, the last trading day before the National Day holiday, the settlement will be more concentrated, the market may appear priceless, enter the holiday mode
in advance.

On the news, the Asian dollar index was volatile and strong, now trading around 94.
595, and the Fed raised interest rates by 25 basis points as scheduled in the early morning, achieving the third rate hike of the year, and is expected to raise interest rates once more in December, prompting the dollar index to strengthen
slightly.

On the industry side, the Woodlawn copper project in New South Wales is another step
closer to its first production.
The announcement was made earlier this week by Heron Resources, which announced that construction was proceeding
as planned.
The project is expected to be operational
by the end of 2018.
The company said the project targets an annual production of 10,000 tonnes of copper concentrate
.

During the day, copper futures showed a volatile weakening, and non-ferrous metals generally fell
due to the impact of the US dollar interest rate hike in the early morning.
The copper spot market is generally cautious, and most of the holders have gradually entered the settlement state and entered the holiday mode
in advance.
On the technical side, the MACD indicator red bar narrowed, the futures price showed weakness but has not yet fallen below the 50,000 mark and the 5-day moving average, short-term focus on the support of the 50,000 mark below
.
Operationally, it is recommended that the Shanghai copper 1811 contract can consider selling high and low between 50,000-50,800 yuan, and stop loss 300 yuan / ton
.