Short-term investment sentiment in the copper market is more Shanghai's main copper force rose strongly

In terms of external trading, Asian market London copper fell slightly, of which 3 months London copper intraday trading at 7167-7129 US dollars / ton, now trading at 7133 US dollars / ton, down 0.
5% per day, the current London copper running above the main moving average group, the technical form is stronger than Shanghai copper
.
In terms of positions, on February 21, the position of London copper was 319,000 lots, a decrease of 1,222 lots per day, indicating that the bears actively covered to push copper prices higher
.

In terms of the market, on February 23, Shanghai electrolytic copper spot traded at a discount of 260-180 yuan / ton for the monthly contract, and the transaction price of flat water copper was 52930-53040 yuan / ton
。 Shanghai copper price difference expanded to 250 yuan / ton, near month and far month price difference narrowed from the original 750 yuan / ton to more than 600 yuan / ton, holders firm quotation, narrow discount, morning market good copper quotation maintained the previous day's level discount of 210-200 yuan / ton, attracting trade speculators to receive, the second trading session good copper quotation raised to a discount of about 180 yuan / ton, within the day there are individual downstream enterprises into the market replenishment, bullish confidence in copper and good expectations for the downstream replenishment volume next week, The willingness of holders to raise prices is strong, the market has broken the stalemate and wait-and-see pattern, and the transaction is gradually warming up
.

On the macro front, the Asian dollar index oscillated and rebounded, now trading near the 90 mark, basically recovering the overnight decline
.
In addition, the Shanghai Composite Index continued to move higher, achieving its second consecutive day of gains after the holiday, which partially boosted the market investment sentiment
.
Intraday data was lighter, focusing on Germany's fourth-quarter quarter-adjusted GDP data and the final quarter-adjusted CPI annual rate in the Eurozone at the end of January
.

Industry information, customs data show that China's copper scrap imports in January were 200,000 tons, down 27.
5% year-on-year and 24% month-on-month, and monthly imports hit a new low since February 2016, mainly affected by the government's implementation of new regulations on overseas scrap imports, which will trigger the expectation of a shortage of domestic scrap copper supply, which will benefit copper prices
.

During the day, the Shanghai copper 1804 contract closed strongly at 53,590 yuan / ton, as the market expected that China's copper consumption was expected to improve after the Spring Festival and the decline in scrap copper imports was boosted
.
The short-term copper market investment atmosphere is more, it is recommended that the Shanghai copper 1804 contract can be backed above 52800 yuan to bargain more, the entry reference is around 53300 yuan, the target is 54000 yuan / ton
.