The overall center of gravity of copper prices fluctuates in the range

In terms of external trading, the morning Apan Lun copper opened low at 5802 US dollars / ton, immediately after the opening touched the intraday high of 5814.
5 US dollars / ton, but soon the center of gravity fell all the way down below the $5800 mark, under pressure below the daily moving average weak finishing, and the center of gravity slowly and gradually moved down, into the European market, copper prices unable to hold steady accelerated decline, along with the LME inventory report showed that intraday London copper stocks increased by 5075 tons, an increase of 3.
14%, London copper straight down to the daily low of 5752 US dollars / ton position, Intraday copper fell nearly 1%.

Watch the US New York Fed Manufacturing Index
for February.
At present, the US dollar is rushing to a high of 99.
270 in nearly half a year, and the market risk aversion has suppressed the bulk market, and the recent performance of copper prices has stopped rising, waiting for the major progress of the global epidemic to promote
.

In terms of the market, Shanghai copper fluctuated in a narrow range, and on the first day after the change of month, the spot market quotation continued the discount level of the 03 contract on the previous day, and the morning market reported a flat water copper discount of 190-180 yuan / ton, and a good copper discount of 160-150 yuan / ton
.
Inquiries from downstream enterprises increased during the day, but the receipt of goods was still limited by logistics factors and could not be carried out, and the psychological buying position of traders hoped to be greater than the discount of 200 yuan / ton before they could consider entering the market
.
In the context of no inflection point in the epidemic and no change in the preconditions for unsmooth logistics, the pattern of oversupply will continue to make the copper market strong and weak characteristics
.
In the afternoon, the holder really increased the discount range, flat water copper discount 210-190 yuan / ton, good copper more in the discount 180-160 yuan / ton, wet copper smell discount to 300 yuan of the first line of quotation, the transaction price slightly higher than the morning with the upward movement of the plate to 45950-46050 yuan / ton
.

During the day, Shanghai copper as a whole maintained a relatively high shock pattern, mainly because the current domestic epidemic situation is gradually improving, and the number of new confirmed cases in areas other than Hubei has dropped for 13 consecutive days, giving market confidence; However, because the epidemic in Wuhan has not completely stopped human-to-human transmission, and it will take time for domestic production to fully recover, the short-term impact on the economy is still large, which is a risk point
that restricts the rise of copper prices.