The upper momentum is obviously insufficient, and the copper rush high market is suppressed

In terms of external trading, Apan Lun copper opened low at 5733.
5 US dollars / ton on Thursday morning, and soon after the opening it briefly touched the intraday low of 5732 US dollars / ton, and then the price repaired to a high of 5767 US dollars / ton in the short term, and the overall price began to weaken at noon, and then the overall center of gravity basically fluctuated at 5745 US dollars / ton line, intraday London copper performance long position, due to the weak demand caused by the domestic epidemic, copper market bulls obviously lack confidence in entering the market
.
As of 17:00, London copper closed at $5,746/ton, down 0.
29%.

In terms of the market, Shanghai electrolytic copper spot contract discount of 60 ~ discount 30 yuan / ton, flat water copper transaction price 45450 yuan / ton ~ 45530 yuan / ton, premium copper trading price 45470 yuan / ton ~ 45550 yuan / ton
.
Shanghai copper performance up and down dilemma, the current month contract is still around 45,500 yuan / ton a wide range of oscillations, the next month price difference is about 130 yuan / ton, the spot market, before delivery continues to narrow the discount
.
Downstream buying still can not be improved, traders' trading continues the previous day's inquiry on the delivery of products, the current deliverable Guixi copper goods tight price is high, Jinchuan due to the delivery factors, can be circulated abundant, flat water copper deliverable products represented by Xiangguang Lufang discount narrowing obviously, ISA and other products can be low price to discount 70-80 yuan / ton, warehouse receipt circulation is relatively favored
.
There are only two trading days left in the delivery, and the discount may continue to slow and tentatively narrow, but the overall trading activity is difficult to substantially increase
.
In the afternoon, the center of gravity of copper shifted slightly, the volatility of the shock expanded, the price difference of the next month widened significantly, once exceeded 200 yuan / ton to 240-250 yuan / ton, spot discount continued to narrow significantly, flat water copper discount about 30 yuan / ton, good copper discount 20-10 yuan / ton, the transaction price was 45440-45500 yuan / ton
.

The overall performance of Shanghai copper in the day fell back, rushing up to 46,000 yuan / ton above the momentum is obviously insufficient, and the internal trend is still relatively weak relative to the external market, mainly because the impact of the epidemic on the domestic is much greater than that of foreign countries, and the current inflection point of the epidemic has not yet appeared, and the impact of the epidemic on the domestic economy has gradually become prominent, especially the tertiary industry has been greatly impacted, and the market is still difficult to alleviate economic worries, limiting the rise of Shanghai copper
.
At present, Shanghai copper closed in the small sun, under pressure on the 10-day moving average, and there is still pressure
on the technical point of view.
Continue to pay attention to the development trend of the epidemic, and it is expected that before the emergence of breakthrough good news, it will be difficult for Shanghai copper to break through the 46,000 mark
.