The overall market atmosphere is bullish Shanghai copper has received short-term support

In the external market, London copper opened at $6,764/ton, up $23.
5/ton
from Thursday's settlement price.
At the beginning of the session, it showed a volatile upward trend, crossed the daily moving average upward, touched 6828 US dollars / ton and then traded sideways
.
After entering the European time, it briefly retreated, tested a low of 6787 US dollars / ton, and then crossed the daily moving average again, running along the 6810 US dollars / ton line
.
As of 18:15, it was quoted at 6817.
5 US dollars / ton, up 77 US dollars / ton, or 1.
16%.

After two trading days of break, driven by domestic copper prices, London copper rose gratifyingly, touching the 20-day moving average, while the Sino-US trade war turmoil or suppressing its rally, you can see that 6830 US dollars / ton is a more obvious pressure level, is expected to continue to test, waiting for the opportunity to break through
.

In terms of the market, Shanghai copper morning low after all the way up, the market morning again showed yesterday's crazy buying scene, the morning market low 50300 yuan / ton line, quotation premium 20 ~ 50 yuan / ton, buying influx, quotation momentary up, and climbing, at 10 o'clock has appeared 50 ~ 100 yuan / ton quotation, the second trading session, the quotation finally after the end of the first wave of buying, stable at 70 ~ 100 yuan / ton, the market rush also stabilized, after 11 o'clock, The speed of the plate rush slowed down, the high gave up a small amount of gain, the market tends to be calm, the number of stoppers increases, the holders slightly relax some quotations, and drop to a premium of 50~90 yuan / ton
.
The intraday market continues to be controlled by sellers, and traders and downstream remain highly active, showing the characteristics of the
pre-holiday stocking boom.
In the afternoon, the fear of heights has amplified, there are few inquiries, most of the downstream has bought in the morning market dip, traders are cautious, risk aversion and financial pressure during the holiday period make active buying stagnate, holders began to constantly reduce the premium to seek transactions, the quotation fell back to the early quotation range of the morning market, and only then did some companies with a little capital reduce the price to take a small amount of goods
.

In terms of news, Foreign Ministry spokesman Geng Shuang said that he hoped that the US side would remain rational, have a clear understanding of the situation, and abandon unilateralism and trade protectionism
.
China has the determination and ability to take all necessary measures to defend its legitimate and legitimate rights and interests, and the United States has a list, and China will have a list
.
Consultations should be based on mutual respect and equal treatment, rather than condescending, where one party unilaterally coerces
.

The main 1805 contract of Shanghai copper fluctuated along the daily moving average as a whole, with a stable center of gravity, a slightly narrower amplitude than the previous day, and more short-term
funds.
Affected by the Qingming holiday, the spot trading market is hot, and the overall market atmosphere is bullish, providing short-term support
for Shanghai copper.
It is expected that copper prices should continue their volatile trend in the near future, continue to test the support capacity, and wait for the downstream market to fully recover.