The bulls have a strong atmosphere and copper prices remain strong during the day

In terms of the outer disk, Lun copper opens low and goes
high.
Open at 5886 US dollars / ton in the morning, London copper in the Asian session near the daily moving average for a short stop, under the long liquidation, copper price center of gravity fell back to the daily average below the daily average of 5864 US dollars / ton near consolidation, low 5850 US dollars, the afternoon by the surrounding influence, London copper strong pull, quickly soared to touch the high of 5950 US dollars / ton, European session, some bulls gave up profits, copper price shock fall, backtest the daily average, as of 17:30, London copper reported 5920 US dollars / ton
。 Intraday commodities generally rose, the market once again set off a long atmosphere, the bottom center of gravity of London copper moved up, but still did not break the current shock range, the recent show of $5950 first-line pressure is difficult to break, is expected to wait for the opportunity to seek a breakthrough
in the later stage.

On the macro front, the latest U.
S.
durable goods orders in October ended at 4.
6% month-on-month, better than the expected 3.
4%, which analysts believe shows that the U.
S.
economy accelerated in the
fourth quarter.
The dollar corrected slightly, not significantly boosted by economic data
.
International oil prices ended their rally
since Wednesday as doubts remained about whether the production cut agreement could be successfully implemented.

In terms of the market, the Shanghai copper fluctuated at a high level, and the holders supported the current copper quotation, mainly because large traders were reluctant to sell good copper, and the quotation was small
.
A small amount of good copper was reported at the beginning of 10 yuan / ton, which was quickly bought, and the holders turned to flat water copper and wet method, and the supply of low-end copper in the market was sufficient, aggravating the polarization of copper quotations of various grades
.
Speculators buy when the market price is low, supporting the starting copper trading volume
.
However, downstream sluggishness and individual traders continued to dump large quantities of wet copper at low prices, so that wet copper continued to be low, with a discount of 200-170 yuan/ton.

Holders still hold more confidence in the future market, and the premium state of copper quotations may be maintained
.
In the afternoon, the Shanghai copper straight line rose through 48,000 yuan / ton, the market did not see a rising buying, and the inquiry price also decreased, the holder took the initiative to lower the quotation, good copper reported a premium of 10 yuan / ton - 20 yuan / ton, flat water copper reported a discount of 30 yuan / ton - a discount of 10 yuan / ton, because the transaction price has been raised to a high level of 47,750 yuan / ton - 48,000 yuan / ton, the actual transaction is rarer than in the morning
.

Overall, due to the short-term difficulty in fulfilling demand expectations, the increase in terminal demand expectations has limited support for copper prices, and the copper price rebound lacks a fundamental basis, and the sustainability of copper price rebound remains to be seen
.