The financial market is floating green and the center of gravity of Shanghai copper continues to shift

In terms of external trading, the Asian market morning London copper gap opened low at 5396 US dollars / ton, as a large number of cheap supplies from Saudi Arabia and the United Arab Emirates began to pour into the market on the previous day, cloth oil closed down, weighing on copper prices, and the morning short-term bottomed at 5319.
5 US dollars / ton, hitting a new low
again.
But then with the repair of the global stock market, and the release of 550 billion yuan by the People's Bank of China in the evening, the copper price was strongly revised upward, successfully standing at the $5500 / ton mark, and testing the high of $5570 / ton
in the evening.
As of 18:00, the price of London copper was 5541 US dollars / ton, an increase of 1.
96%.

At present, under the repair of macro sentiment, copper prices have rushed upward, but under the strong pressure of the epidemic background, copper prices continue to rise and hesitate
.
At present, the 10-day moving average is blocked above London copper, and the daily moving average is still showing a bearish arrangement
.
Wait for guidance from the dollar and crude oil to test whether London copper can break through the $5570/mt level again
.

The financial commodity market is green, the center of gravity of Shanghai copper continues to move down, the contract broke 43,000 yuan / ton in the month after the low oscillated in the range of 42650-42750 yuan / ton, the market is immersed in a bearish atmosphere, the morning market of the holder maintained the previous day's quotation, the premium 10 ~ premium 30 yuan / ton, but the market waits and sees, the receipt of goods is weak, it is difficult to have batch transactions, the holder takes the initiative to lower the quotation, the good copper quotation premium 10 ~ liter 20 yuan / ton, flat water copper quotation as low as flat water, Wet copper maintained stability in the range of 50-30 yuan / ton discount on the previous day
.

Copper futures fell endlessly, the market fear of decline continued to pervade, spot traders and downstream are standing, in the face of the month's delivery countdown can not save the decline of spot premium, but the upcoming month will be re-ushered in the discount state is expected to be greater, the futures and cash are in a weak state, the transaction is difficult to improve
for a while 。 The afternoon opening market directly pulled up, returned to 43,000 yuan / ton above, and all the way up to 43,300 yuan / ton, the market was stunned, quotations can only be maintained at the level of the morning, few people to chase up to receive goods, flat water copper flat water - liter 10 yuan / ton, good copper premium 10-20 yuan / ton, the transaction price soared at 43100-43250 yuan / ton, almost recovered all the decline in the morning
.

Shanghai copper fluctuated greatly during the day, mainly due to the outbreak of the global epidemic, coupled with the collapse of the global stock market, the market risk aversion was high, copper prices continued to decline at the open and fell below the 43,000 yuan / ton mark, but the domestic central bank announced that in order to support the development of the real economy and reduce the actual cost of social financing, the central bank decided to implement a targeted RRR reduction for inclusive finance on March 16, 2020, and a targeted RRR reduction of 0.
5 to 1 percentage point
for banks that meet the assessment standards.
The market heard the favorable sentiment and pulled back above 43,000 yuan / ton
.
However, due to the fact that the epidemic situation abroad has not improved, the slight rise is expected to be difficult to maintain sustainability, and Shanghai copper closed positive during the day, but there is still pressure on multiple moving averages above, and the pressure is greater, and it continues to test whether Shanghai copper can continue to stabilize the 43,000 yuan / ton mark
.