The overall copper rebounded and the center of gravity rose from the previous day

In the external market, London copper opened at 6826 US dollars / ton, the beginning of the session fluctuated upward, touched 6869 US dollars / ton after the lack of upward momentum, fell slightly, tested 6849.
5 US dollars
.
In the afternoon, copper prices climbed again, also hindered by the 6870 US dollars / ton line, the Asian session was supported by the daily moving average, after entering European time, the US dollar rushed up to 93, copper prices fell rapidly, falling below the daily average
.
As of 17:15, London copper was trading at $6,768/ton, down $77/ton
.
The dollar strengthened during the day, breaking above 93, putting pressure on copper prices
.
London copper first rose and then fell again, currently hanging at the 5-day moving average
.

In terms of the market, Shanghai copper continued to trade sideways near the 51,000 yuan / ton mark, and the basis was around 230 yuan / ton the next month.

Morning market holders quoted positively, the market reported a premium of 10 ~ 50 yuan / ton, some traders sold flat water copper at a low price to report to flat water, but was quickly closed, speculators bought at the low, based on good copper transactions, good copper quotations were quickly raised to 60 yuan / ton, the willingness to raise prices is obvious
.
In the second trading session, good copper was raised to 70 yuan / ton of premium, flat water copper was adjusted to around 20 yuan / ton, and the transaction was suppressed, obviously not as good as the morning market, and the wet copper quotation was discounted 80~50 yuan / ton
.
After eleven o'clock, the plate rushed above 51,000 yuan / ton, and the market response was weak, but the quotation did not see a sharp reduction
.
The intraday market continues to show a tug-of-war, if the price difference continues to remain around 200 yuan / ton in the next month, the premium before delivery will continue to push up
.
In the afternoon session, the center of gravity of the market moved upward, the holders slightly lowered the quotation of flat copper, the price of premium copper was still up, the market continued to be deadlocked, and the transaction was poor
.

In terms of stocks, as of May 7, COMEX copper stocks 252692 short tons, an increase of 576 tons from the previous day; As of May 4, LME copper stocks were 311375 tonnes, down 5,025 tonnes from the previous day; As of May 8, SSE futures inventories were 143423 tons, down 452 tons
from the previous day.

Industry news, the General Administration of Customs of China released data showing that China's imports of unwrought copper and copper products from January to April were 1.
67 million tons, an increase of 15.
2% over the same period last year; Imports of unwrought copper and copper products in April were 439,000 tons, up 46% year-on-year and unchanged
from the previous month.

During the day, the overall low of Shanghai copper rebounded, and the center of gravity rose from the previous day
.
It is currently stuck between the moving averages, and the lower moving averages are staggered to provide support
.
The US dollar index still maintained a high pressure state, crude oil stopped the decline, consolidated at a high level, and waited for the follow-up development of
the Iranian nuclear agreement.
It is expected that the main force of Shanghai copper will consolidate the first-line support capacity
of 51350 yuan / ton in the short term.