The low volatility of copper was affected by high inventories

Today's LME March copper shock decline, opening at $5768.
5 in the morning, diving from the highest point of $5770 after the open, rebounding after bottoming out at $5715, and then maintaining a narrow range, closing at $5746.
5 during the domestic trading session
.

Market: Today's Shanghai Nonferrous Metals Trading Center (SME), spot copper mainly traded 46210-46350 yuan / ton in the morning, down 760 yuan from the previous working day, and the premium was reported at C210-C70 yuan / ton, up 30 yuan / ton
from the previous working day.
The copper spot price index was at 46231, down 858
from the previous session.
Today's market trading is flat, the market imports most brands, smelters basically do not ship
.
Today, a large number of warehouse receipts flowed out, quotations were below market prices, and traders were bullish and premium, and their purchasing enthusiasm increased
.
Downstream manufacturers' demand is still weak, today's price is falling, manufacturers are bargaining on demand, and there is no demand
for stocking.
The afternoon discount is basically the same as in the morning, good copper reported at C90-C70 yuan / ton, flat water copper C160-C150 yuan / ton, wet copper C210-C180 yuan / ton or so
.
According to the survey results of the Shanghai Nonferrous Metals Trading Center, most traders hold a downward view, and a small number of traders hold an upward view
.

There is a lack of important news
on the macro level today.
China's domestic financial constraints have pushed down commodity prices
.
At the same time, the early copper mine strike, Trump's policy and other benefits were exhausted, and the price retreated
.
In the near future, Chilean copper mines will resume negotiations, and the resumption of work may be expected, which has a certain pressure on
copper prices.
At the same time, in terms of inventory, although LME copper stocks are decreasing day by day, the total amount is still high, indicating that the current supply-side pressure is still large
.
Downstream consumption has not seen significant improvement, and a small amount of bargain-hunting is mainly
on-demand.
From the futures disk point of view, the 1705 contract, slightly weak, the daily K-line at the 60-day moving average under pressure downward, short-term copper prices or shock decline, pay attention to inventory dynamics
.