The long and short sides are deadlocked Copper prices will remain weak in the short term

In terms of the external market, London copper opened at 5971 US dollars / ton, at the beginning of the session, London copper around the daily moving average wide oscillation, the amplitude does not exceed 17 US dollars / ton, before the end of the first time period of the Asian market to the afternoon Asian market just opened, London copper still around the daily moving average oscillation, but the amplitude narrowed to no more than 14 US dollars / ton
.
In the afternoon, London copper once again oscillated around the daily moving average width, during which it rushed up to the intraday high of 5989.
5 US dollars / ton, and the amplitude after the European session was worse than at the beginning of the session, the maximum amplitude was nearly 25 US dollars / ton, and the sharp fall during the period touched the low of 5959 US dollars / ton to get strong support
.
As of 17:10, London copper was trading at $5,968/mt
.

In terms of the market, Shanghai copper rose slightly overnight after maintaining range volatility, holders continued to maintain stable quotations to try to raise prices, the morning market continued the previous day's quotation premium 70 ~ 120 yuan / ton, but where traders lower prices, can be wished, the market flat water copper concentrated transaction in the premium 60 ~ 70 yuan / ton, good copper traded in the premium 100 ~ 110 yuan / ton, there are many shipments, the response to receiving goods is weak
.

In the second trading period, some holders have quietly lowered the premium, flat water copper premium about 50 yuan / ton, good copper premium 90 yuan / ton first-line, wet copper although the goods are small, but due to the low willingness to receive goods, the holder can only give up the price discount of 50 ~ discount 20 yuan / ton
.
In addition to traders pressing prices to close low-priced sources, there are few downstream purchases, and the situation of supply and demand tug-of-war has been quietly broken
little by little.
In the afternoon, the center of gravity rose slightly to 47450 yuan / ton was blocked, the enthusiasm of the market to buy was still relatively weak, the holders' attitude towards the premium was slightly relaxed, and the price quotation was actively lowered, and there was room for price pressure in the market
.

Copper prices have recently maintained low volatility, due to market performance supply and demand are weak, the US economy is growing strongly, the US dollar index is stable at a high level, the United States actively suppresses oil prices, and the European market is dragged down by macro events such as Brexit, the recent performance is weak, indirectly pressure copper prices, investors are affected by macro sentiment is stronger, long and short sides performance stalemate, the market is full of expectations for the future interest rate hike policy of the United States and the announcement of next year's demand at the annual meeting of major copper mines at the end of the year, copper prices still maintain a downward trend
in the short term.