The main force of Shanghai copper opened high and fell, and the actual consumption downstream was weak

Market focus: At 2:00 Beijing time on Wednesday, the British Parliament will hold its first vote on the Brexit bill, and if the withdrawal agreement cannot be approved in Parliament this week, the EU will postpone Brexit until February
2020.
Union workers at Pizza's Escondida copper mine in Chile will go on strike for a day on Tuesday in solidarity with Chilean demonstrations
.
According to Zhuochuang data, the copper consumption of the real estate industry from January to September 2019 was about 999,200 tons, down 3.
1% year-on-year and 0.
28 percentage points
narrower than that from January to August.

Spot analysis: On October 22, spot 1# electrolytic copper was quoted at 47140-47200 yuan / ton, with an average price of 47170 yuan / ton, down 20 yuan / ton
per day.
The morning market quotation premium 80-100 yuan / ton, but the spot market buying is still weak, the holder is forced to lower the quotation, the transaction is still more wait-and-see
.
In the second trading stage, the transaction was blocked, and the holders took the initiative to lower the quotation again, the copper price was high, the superimposed supply was sufficient, the buying was weak, the market was afraid of heights, traders were speculative and cautious, and the actual downstream consumption was weak
.

Warehouse receipt inventory: Shanghai copper warehouse receipts totaled 61,220 tons on Tuesday, down 700 tons per day; On October 21, LME copper stocks were 268,200 tons, down 200 tons
per day.
Main positions: the top 20 long positions of Shanghai copper main 1912 contract are 63593 lots, minus 88 lots per day, short positions are 81790 lots, daily increase of 407 lots, net short positions are 18197 lots, daily increase of 495 lots, more short increases, net space increases
.

On October 22, the main force of Shanghai copper 1912 opened high and fell
.
The Brexit bill faces a parliamentary vote, optimism currently prevails, the pound sterling trend is strong to pressure the dollar, while the South American copper mine supply disturbance continues, coupled with China's scrap copper imports are expected to decline, increasing the supply of raw materials worries, terminal real estate copper marginal improvement, air conditioning production year-on-year growth rate expanded, downstream demand has improved, copper prices are positive, but the global economic downward pressure increased, China's GDP growth performance is weak, market pessimism still exists, forming some pressure
on copper prices 。 In terms of spot, morning market buying is still weak, holders are forced to lower their quotations, transactions are still more wait-and-see, copper prices are high, superimposed on sufficient supply, buying is weak, the market is afraid of heights, traders are speculative and cautious, and the actual consumption downstream is weak
.
Technically, the main 1912 contract of Shanghai copper runs above the moving average group, and the daily MACD green column shrinks, which is expected to be strong in the short term
.