The center of gravity of Shanghai copper has shifted downward, and the pullback trend will continue in the short term

In terms of the external market, London copper opened at 6337.
5 US dollars / ton, the copper price at the beginning of the session briefly stayed near the opening price, and then rushed up to the high of 6356 US dollars / ton was obviously blocked, with the return of the US dollar, London copper shock downward, the low touched 6308 US dollars / ton, at 6300 US dollars temporarily supported, upward repair around 6320 US dollars / ton shock running, afternoon bulls increased positions into the market, London copper shock upward above the daily moving average, repair part of the intraday decline, as of 16:30, London copper reported 6333.
5 US dollars / ton
。 During the day, London copper pulled back slightly, losing the support of the 5-day moving average, causing some bulls to reduce their positions in the early stage and leave the market, and it is expected that the short-term London copper $6350 first-line resistance is large, or will maintain a volatile adjustment trend
.

In terms of the market, Shanghai copper fell back adjustment, copper prices returned to below 50,000 yuan, early in the morning traders opened the inquiry receipt mode, quotation inquiry transaction changed the previous week of stalemate pattern, performance picked up, spot from the morning market discount 70 ~ 50 yuan / ton, all the way narrowed, after 11 o'clock the plate accelerated down, the discount quickly narrowed, good copper almost flat water quotation, flat water copper has narrowed to discount 40 ~ 30 yuan / ton, wet copper discount to 100 yuan near the holder has shown selling sentiment, difficult to find a source
。 Intraday traders mostly deliver long orders to receive goods, good copper shows high spot prices, downstream entry into the market to purchase wet copper and flat water copper, the market performance is rarely active, the trading volume has increased
significantly.
In the afternoon session, holders continued to intend to raise prices, and even had the intention to report a premium, but the market was difficult to gain recognition, the market was difficult to find low-priced sources, holders were reluctant to sell, holding goods to rise, although the inquiry was still positive, but the transaction was weakened
compared with the morning.

In terms of news, the dollar index rebounded slightly overnight, copper prices maintained a high level, and the news of the recent copper mine strike came to an end, but the widening copper mine supply gap is still an indisputable fact, and the global economy maintains a steady growth rate
.
Last week, the import ban on scrap seven types of copper diverged greatly, the market generally believes that the actual impact is smaller than expected, short-term news speculation lacks the theme, pay attention to the resistance of the upper 5-day moving average, it is expected that Shanghai copper around the 50,000 mark high consolidation, continue to pay attention to the adjustment of copper prices, is expected to fall limited
.