The market reacted indifferently and the Shanghai copper shock sorted out

In terms of external trading, London copper opened at 6189.
5 US dollars / ton, after the opening, copper prices showed a slow downward trend, still hovering at 6160 US dollars / ton in the morning, and moving down to 6120 US dollars / ton in the afternoon
.
After the Shanghai copper close, bears immediately poured in, overwhelmingly suppressing copper prices, instantly falling below the $6,000 / ton mark, reaching an intraday low of $5,988 / ton, and then hovering near
the $6,000 mark.
As of 17:30, London copper was trading at $5995.
5 / ton
.
The dollar continued to strengthen during the day, with the offshore yuan falling as low as 6.
8027
.
The market is bearish atmosphere is difficult to break, the bears are unexpected, to the bulls another blow, London copper easily broke 6,000 US dollars / ton
.

In terms of the market, non-ferrous metals turned red across the board under the leadership of zinc prices, and Shanghai copper was under pressure of 49,000 yuan / ton
.
The willingness of the holders to hold up the price continues to increase, the early holders quote good copper, flat water copper has been fully elevated to 10 ~ 50 yuan / ton, the market is afraid of high premium, shipments are blocked, but the holder is unwilling to adjust significantly, only make a slight adjustment to good copper premium 30 ~ 40 yuan / ton, flat water copper quotation flat water ~ 10 yuan / ton, wet copper source maintenance stability discount 50 yuan / ton nearby
.
Good copper is difficult to have the willingness to buy, flat water copper low-price supply is acceptable, downstream to maintain rigid demand, compared with the previous day's hot trading atmosphere, intraday showed a stalemate pattern, many
watchers.
For many days of narrowing the discount until the premium state, the market has shown caution, and the transaction has shown a difficult and hindered situation, but the willingness of holders to hold up prices has not changed for the time being, paying attention to the new arrival of imported copper over the weekend
.
The afternoon market fell, the market reacted indifferently, and the holders slightly lowered the premium, but the willingness of downstream and traders to receive goods was still not high, and the overall transaction continued the sluggish trend in the morning
.

In terms of stocks, LME copper stocks were 257,350 tonnes as of July 18, down 2,375 tonnes from the previous day; As of July 19, SSE futures inventories were 119354 tons, down 3,607 tons
from the previous session.

Industry news, the report released by the World Metal Statistics Bureau (WBMS) shows that the global copper market was oversupplied by 176,200 tons from January to May 2018, bidding farewell to the supply shortage of the previous five months
.
Data show that global copper consumption from January to May 2018 was 9.
61 million tons.

Overall, the recent inventory of the two markets has declined significantly, forming a certain support for the price, and the serious shrinkage of the refined waste price difference after the sharp fall in copper prices will also intensify the progress of refined copper destocking, and the continuous interference of copper mines and the tight supply of scrap copper still form an anti-fall support
for copper prices.
However, the uncertainty of the trade war coupled with the strength of the US dollar, short-term copper prices may continue the low shock adjustment trend
.
FYI
.