The dollar index soared all the way, and copper came under pressure and weakened

In terms of external trading, the morning Apanlun copper opened at 5793.
5 US dollars / ton, soon after the morning opening to test the intraday high of 5814 US dollars / ton, after the opening due to the current US side once again said to cancel the most favored-nation treatment of many countries, the market risk aversion pushed the US dollar index close to a three-year high, gold hit a seven-year high broke through the $1610 mark, exerting more obvious pressure
on copper prices 。 In the morning, copper prices fell quickly to around 5760 US dollars / ton, and there was a short-term recovery at the end of the Asian session, but the upper daily moving average was blocked, entering the European market, London copper fell again, probing the low of 5750 US dollars, the center of gravity shifted down again, basically around 5760 US dollars / ton position, as of 18:00, London copper 5759.
5 US dollars, down 24.
5 US dollars / ton, down 0.
41%.

In terms of the market, the upward trend of Shanghai copper was blocked to fall, the morning trading session quickly plummeted nearly 200 yuan / ton, the spot market, the morning market is still at a high level of quotation is from the good copper discount 200 yuan / ton to report, flat water copper from the morning market discount 220 yuan / ton quickly dropped to the discount 240-230 yuan / ton, about 11 o'clock, has been reduced to the discount of 250 yuan -260 yuan / ton, good copper followed, and flat water copper almost no price difference, wet copper is from the morning market discount 300 yuan / ton report, Until the second trading session, the quotation of about 350 yuan / ton has been shown, and the price difference
of nearly 100 yuan has been opened with flat water copper.

Since February, traders return to work rate is high, shipment cash is also significantly increasing, with the end of February, financial pressure is getting heavier and heavier, and a small number of downstream enterprises are gradually troubled by funds, the volume of goods is difficult to release, the short-term market will continue to show goods difficulties, limited transactions, oversupply characteristics are becoming more and more prominent, the trend of discount expansion is difficult to suppress
。 In the afternoon, the low level of Shanghai copper rebounded, and traders received goods in an appropriate amount at the low level of spot, which slowed down the pace of spot discount expansion, flat water copper discount 250-230 yuan / ton, good copper discount 220-210 yuan / ton, the transaction price was 45940-46040 yuan / ton
.

Shanghai copper rushed back down during the day, mainly because although the current epidemic performance is gradually improving, but copper prices are still under great pressure, because according to the recent Federal Reserve meeting minutes officials show that the current US monetary policy is appropriate, the economic situation is stable, the dollar index has also soared, has reached a high of 99.
8, copper prices under pressure and weak
.