The optimistic tone of the macro view will not change, and copper prices still have upward momentum

In terms of external trading, Apanlon copper opened high at 6505.
5 US dollars / ton, and the beginning of the session rushed as high as 6580 US dollars / ton
.
After the opening of Shanghai copper, London copper continued to jump higher to the 6600 mark, testing the intraday high of 6601.
5 US dollars / ton, but by the short high sniping, London copper fell back to 6560.
5 US dollars / ton
.
Then London copper rebounded slightly to $6589/ton, but bearish forces continued to suppress, and the market fell to $6557/ton
.
Entering the European session, the news that the United States asked China to close the Consulate General in Houston led to further intensification of tensions between China and the United States, sudden changes in market sentiment, and London copper plummeted, exploring the intraday low of 6434.
5 US dollars / ton
.
As of 17:00, London copper closed at 6457.
5 US dollars / ton, down 54.
5 US dollars / ton, or 0.
84%.

In the market, gold and silver crude oil rose sharply overnight, leading the base metals to turn red across the board, and Shanghai copper rebounded 1.
5% to 52,600 yuan / ton, an increase of about
700 yuan / ton 。 In the morning, the holder quoted flat water copper premium 50-60 yuan / ton, good copper 110-130 yuan / ton, fear of heights again, difficult to have an actual transaction, superimposed warehouse receipt source outflow makes the holder high level of cash willingness to increase, some holders try to reduce the price to promote the transaction, the premium opens the road down, flat water copper directly dropped to the premium of about 30 yuan / ton, the inquiry price has improved, the buying interest has improved, the price of good copper shipment difficulty has been adjusted to about
100 yuan / ton.

Copper prices have risen for two consecutive days has exceeded 1,000, copper prices are high, the outflow of goods continues to increase, the downstream returns to the state of waiting and seeing, the intraday market transaction is still mostly long-order traders, but under the strong market, its target psychological price may be lower, sellers are more considering high rapid cash
.
In the afternoon, the market was sideways, but the decline in spot premium has stabilized, flat water copper remained stable at 30-40 yuan / ton, good copper premium 80-100 yuan / ton, and the transaction price also ran smoothly at 52530-52700 yuan / ton
.

The low interest rate environment combined with the continued stimulus program kept the tone of macro optimism unchanged, base metal prices rose, and there was good news from fundamentals, Chilean miner Antofagasta announced that copper production fell 8.
4% month-on-month in the second quarter, which once again increased concerns about copper supply tightness, providing support to copper prices
.
Shanghai copper closed in the day, KDJ opening converged, below still jumped from a number of moving averages, technical point of view copper prices still have upward momentum
.
Wait for the guidance of the external market to test whether the bulls can exert force again and support the Shanghai copper rush up to the 53,000 yuan / ton mark
.