The dollar index fell under pressure, and copper prices temporarily fluctuated higher

Externally, London copper opened at 4627 US dollars / ton, during the Asian session London copper briefly tested the 5-day moving average, the low recorded 4623.
5 US dollars / ton, after confirming the support, as the dollar fell, bulls enthusiastically increased their positions into the market, driving copper prices to break through the 10-day moving average resistance, the RBA did not move at noon, saying that the data showed that Australia's overall economy continued to strengthen, the Australian dollar rose against the US dollar, the US dollar passively fell to 95.
58, stimulating London copper to rise sharply to 4652.
5 US dollars / ton, European session, LME inventories reported an increase of 6450 tons, and London copper slightly backtested the support of the 10-day moving average, and as of 17:00, London copper was trading at $4639.
5/mt
.
Relying on the 5-day moving average oscillation, London copper tried to break through the 10-day moving average, focusing on whether London copper can stand firm on the 10-day moving average, or break through $4650 / ton
.

On the macro front, the US non-manufacturing data released on Tuesday posted its worst performance since February 2010 and recorded its biggest one-month decline since November 2008, while the Federal Reserve's most favored LMCI employment index also performed dismally, with the dollar index falling 1.
06% to close at 94.
777
under pressure.

In terms of the market, the narrow range of copper fluctuations in the Shanghai period, and the quotation of flat water copper is significantly less, which limits the slight decline of the overall premium of copper
.
The opening good copper reported a premium of 90 yuan / ton, and the flat water copper reported a premium of 60 yuan / ton, but the transaction was weak
.
As import losses further narrowed, some imported copper flowed into the market, and holders wanted to take advantage of the high water and give priority to exchanging a large amount of good copper holdings
.
At 10 o'clock in the morning, the quotation of good copper fell to a premium of 80 yuan / ton, but flat water copper was firm
due to low quotations.
Downstream pick-ups continue to be blocked, waiting for suitable low-priced entry points
.
Intraday market transactions improved slightly after the price reduction, and after the low-priced supply was digested, the holder deliberately controlled the pace of release in order to slowly reduce the premium
.
In the afternoon, copper prices fluctuated and rose, and the market quotation showed the characteristics of narrowing at both ends, reporting a premium of 60-80 yuan / ton, and the transaction price was at 36620-36680 yuan / ton, and the holders wanted to leave buffer space
for the future market.

Overall, copper prices continued to fluctuate in a narrow range, downstream on-demand procurement peak season stocks were limited, the Shanghai ratio of imported copper market weakened slightly, and buying demand was deadlocked
.
Although the US dollar weakened, it has limited long-term boost to copper prices, continuing the view of weak copper prices, operating short orders continue to hold, with $4700 as an exit reference
.