The dollar index weakened, and the Shanghai copper volatility was strong

On the industry front, a Peruvian court on Wednesday sentenced three lawyers representing indigenous villagers to three years in prison after blocking shipments from a large copper mine operated by MMG Ltd
.
The chief prosecutor confirmed the ruling on a television news channel and promised to further resolve the dispute
between MMG and Fuerabamba, a copperbelt in southern Peru.

In terms of the market, the US dollar fell sharply overnight, boosting the general rise of commodities, Shanghai copper rose to 49400 yuan / ton line, the sharp rise before the holiday inhibited buying, but made holders eager to sell goods before the holiday, so the morning market quotation showed a phenomenon of high reporting and low walking
.
After a short transaction of 180 yuan / ton at the opening of the market, it was adjusted all the way down to 150-160 yuan / ton to stabilize, and the morning quotation of flat water copper was still struggling at 40-50 yuan / ton
.
During the day, due to the continuous upward pressure of the controlled plate, the downstream performance was afraid of heights, and the impact of the market's selling tide, most of the downstream held a cautious wait-and-see attitude
.
Cargo holders hedged before the holiday, sold goods for cash performance, although the market atmosphere was lively, but obviously showed that supply exceeded demand, and downstream transactions were suppressed
.
However, the market is still optimistic about
the performance of the future market and spot premium.

In terms of stocks, LME copper stocks stood at 167,950 tonnes on 3 April, up 525 tonnes
from the previous session.
As of March 29, 2019, copper cathode stocks on the Shanghai Futures Exchange stood at 261,412 tonnes, an increase of 2,240 tonnes
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

Shanghai copper volatility was strong during the day, as the market had better expectations for a Sino-US trade deal and was supported
by a weaker US dollar index.
In the spot market, due to the continuous upward pressure of the controlled plate, the downstream performance is afraid of height, and the impact of the market's selling tide, most downstream are cautious and wait-and-see
.
On the technical side, the Shanghai copper 1905 contract fluctuated in the dense area in the early stage, the MACD indicator formed a golden cross at a low level, the mainstream position increased, and the short-term copper price trend was still strong
.