The substantive issue of trade has not yet been resolved, and the high level of copper in the vigilance period has fallen

Externally, Apanlon copper opened at $5740 / ton, shortly after the opening slightly lower $5736 / ton, but soon recovered the decline, and due to the boost of market confidence, copper prices rushed above the $5800 mark, but midday performance gave up, at the beginning of the European session as the market risk aversion subsided, the center of gravity fell again to $5740 / ton, the low quickly attracted bulls to actively enter the market to buy, and then the price fluctuated all the way to 5809.
5 US dollars
。

In terms of the market, Premier Li Keqiang deployed precise policies at yesterday's executive meeting of the State Council to increase efforts to do a good job in the "six stability" work, saying that as the downward pressure on China's economy becomes greater, counter-cyclical adjustment policies should be re-increased, high-level Sino-US dialogues will be restarted, trade friction disputes have been suspended, optimism has encouraged base metals to turn red, Shanghai copper bears left the market in one fell swoop to break through the integer of 47,000 yuan, an increase of nearly 1,000 yuan, the spot market has also been boosted, and the willingness of holders to raise prices is stronger.
Morning market quotation is premium 110 ~ premium 140 yuan / ton, the quotation is high, market acceptance is slightly hesitant, individual traders premium 90-100 yuan / ton to sell a part of flat water copper, attracted active receipt, after the end of the short sale, flat water copper has been difficult to find a source of premium 100 yuan / ton, the market is stable at 110 ~ premium 120 yuan / ton, good copper concentrated transaction in the premium of about 130 yuan / ton, wet copper followed the market to adjust the quotation to around 60 yuan / ton
.
Intraday futures are now up the same, spot trading is positive under the guidance of traders, and downstream is afraid of heights to maintain rigid demand
.
The market sentiment has warmed, coupled with the limited supply of circulating goods, the characteristics of the upward trend of the premium are obvious, and the September effect is gradually reflected
.
In the afternoon, due to the overall trading sentiment of the market, the holders were more firm and the quotation was stable, and the afternoon market was lowered, and the inquiry atmosphere was still active
.

At present, Shanghai copper is closing in the sun, all moving averages have changed from pressure to support, and have stood above the Bollinger middle rail, and the technical performance is favorable
.
Wait for the guidance of the external market to test whether Shanghai copper can stand at the 47,000 yuan / ton mark
.
The center of gravity of Shanghai copper continued to be at a high level during the day, as it was announced in the morning that China and the United States will restart the 13th round of high-level trade negotiations, and market sentiment was boosted, coupled with the market's expectations for the recovery of the consumer side in recent days, which supported the copper price rise
.
However, at present, the global macroeconomic situation is still weak, and the substantive issue of trade has not been resolved, and we are wary of the decline in the high level of Shanghai copper
.