The dollar index weakened, and Shanghai copper fluctuated higher

In terms of industry, according to foreign news on April 8, a senior source of Anglo American, one of the world's largest miners, said on Monday that if the study shows that the expansion plan of its Los Bronces copper mine will attract fierce opposition from the local community in Chile, the company will abandon the mine expansion plan
.

In terms of the market, Shanghai copper around the daily average of 49300 yuan / ton a line sorted, morning traders inquiry active, holders quotation premium 40-150 yuan / ton, the market still presents a cautious wait and wait for the price adjustment situation, soon the holder slightly reduced the quotation shipment, good copper can be pressed to around 120 yuan / ton, flat water copper generally dropped to 10-20 yuan / ton, some traders low price to flat water receipt warehouse order source, wet copper quotation stable at discount 80-discount 40 yuan / ton, Downstream consumption remains rigid in demand, the market continues to oversupply, and low-priced sources can still attract some speculators to enter the market
.
During the day, some warehouse receipts were still eager to exchange for cash, and the transactions were mostly dominated by trade speculators
.
The price spread remained stable in the range of 130-150 yuan / ton in the next month, and the short-term spot premium will continue to stalemate and stabilize
.

In terms of stocks, LME copper stocks were 197,550 tonnes on April 08, down 750 tonnes
from the previous session.
As of April 4, 2019, copper cathode stocks on the Shanghai Futures Exchange were 257,320 tonnes, down 4,092 tonnes
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

Shanghai copper fluctuated higher during the day, as the dollar index weakened and the originally strong crude oil continued to rush up, which was bullish copper prices
.
In the spot market, downstream consumption remains rigid in demand, the market continues to oversupply, and low-priced sources can still attract some speculators to enter the market
.
During the day, some warehouse receipts were still eager to exchange for cash, and the transactions were mostly dominated by trade speculators
.
On the technical side, the MACD indicator of the Shanghai copper 1906 contract rose, and the copper price performed strongly, focusing on the resistance
near the 50,000 mark in the short term.