The decline of Shanghai copper was suspended, and the decline and rebound within the day

External: Today's Asian copper rose strongly, of which 3-month London copper rose 1.
74% to 4771 US dollars / ton, the current London copper regained the M60 line, but the short-term here or oscillation sorting, the lower support focus on 4700 US dollars / ton
.
In the past week, Duolun copper turned to increase positions to the downside, indicating that the long-short divergence has increased, but the bears have the advantage
for the time being.

Macro: The Asian dollar index oscillated higher, now trading around 96.
6, the same as non-ferrous metals, as the US non-farm payrolls data in June unexpectedly increased by 287,000, far exceeding expectations of 180,000 and the previous value of 38,000.

In addition, China's June CPI rose 1.
9% year-on-year, PPI fell 2.
6% year-on-year, and the year-on-year decline continued to narrow, but China's PPI fell 0.
2% month-on-month in June and rose 0.
5% in May, as prices in some industrial sectors turned from rising to falling, and June inflation data hinted that domestic deflation risks remained
.

Market: Today's Shanghai electrolytic copper spot reported flat water - liter water 70 yuan / ton, flat water copper transaction price 36670-37020 yuan / ton
.
The opening of the good copper report premium 70-liter 80 yuan / ton, flat water copper report premium 30-liter 40 yuan / ton, lack of interest, large holders take the initiative to reduce the premium to seek shipments, and thus lead the market premium to fall, but the downstream is waiting for the disk correction
.
After that, the market continued to rise, and the market demand fell sharply
.
However, as the market rose again by nearly 37,000 yuan / ton before the close of the afternoon market, a few holders have quietly reduced the poor flat water copper to the discount
.
Today's characteristics of Monday are highlighted, and it is difficult to sustain the premium before delivery
.

Today's Shanghai copper 1609 contract oscillation closed up to 37020 yuan / ton, as copper prices released some of the pullback demand and returned to the rebound trend
.
And copper prices rose in line with the dollar index as the US non-farm payrolls data for June showed a marked improvement
in its economic outlook.
It is recommended that the Shanghai copper 1609 contract can be sold high and low between 36800-38000 yuan, and the stop loss is 350 yuan / ton
each.