Base metals have fallen, and Shanghai copper is running weakly

During the Asian session, the London copper shock was weak, and the latest quotation at 15:01 Beijing time was 10261 US dollars / ton, down 73 US dollars, or 0.
71%.

Internationally, the situation between Russia and Ukraine continues, many European and American countries want to sanction Russia, and the market is expected to tighten energy and metal supplies to push up copper prices, but at the same time, in the macro aspect, Fed Chairman Powell reiterated that after raising interest rates, a certain degree of restrictions
on the rise in copper prices in the later period.
From a fundamental point of view, overseas inventories have decreased, spot premiums have remained stable, but domestic stocks are still accumulating, and consumption is not good, but the overall will still be supported by the external disk and is expected to maintain a strong trend
.

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River non-ferrous metal network 1# copper price was reported at 73060 yuan / ton, up 20 yuan, premium 160-liter 220; Guangdong spot 1# copper price reported 72890 yuan / ton, up 50 yuan; Yangtze River spot 1# copper 73080 yuan / ton, up 60 yuan, premium 190-liter 230; Shanghai spot 1# copper price was 73090 yuan / ton, up 145 yuan
.

In the spot market, the holder of the goods in the morning is at a high price, the receiver is cautious and wait-and-see, the second trading session, the supply of low-priced goods is difficult to find, the holder began to sell, and the overall transaction was average
.
The LME officially announced the suspension of nickel trading, market sentiment cooled rapidly, base metals have fallen, coupled with Shanghai copper inventories continue to rise and high prices resist consumption obviously, but the price structure has improved significantly, and price support is reflected
.