Spot Fundamentals: According to SMM reported on the 31st Shanghai copper spot on the month of the contract report premium 130 - discount 80 yuan / ton, flat copper price 43570-43650 yuan / ton. Morning offer is still strong firm, the transaction was active; but with the copper down, holding merchant shipping initiative increased, the copper premium is slightly expanded, brokers are not due to the psychological price of copper premium, market volume has been Reduction, downstream procurement on demand. Outer disk, LME copper from March to February spot premium of $ 29.5, an increase of $ 8.75 the previous day / ton.

Operating recommendations: 06 Shanghai copper recent trend with our expectations are basically the same, precise point of guidance is perfect. 43000 support line rebounded late last night, the technical side to see Shanghai copper is expected to continue this afternoon afternoon 43500 short-term resistance on the red can not break before entering the market continue to focus on the bottom of the 43000 support can break the line after 42800 Loss of about two hundred points

Mr. Yang, Hengsheng Investment & Finance