December 11 Shanghai copper afternoon review

In terms of spot, it is expected that flat water copper will continue yesterday's light transaction pattern, just need to take the goods, good copper yesterday due to the rapid market adjustment, increased the uncertainty of the trade market, today to see whether the market has the willingness to
receive goods at a low price.
It is expected that today's Shanghai copper will be 48700-49000 yuan / ton, and the spot premium will be 110-360 yuan / ton
.

In the short term, changes in macro expectations have become the main reason for the short-term fluctuations of copper prices, and industry analysts jokingly call it the "dollar market"
.
From the perspective of supply and demand structure, although global inventories continue to decline and are at the low level in recent years, the weakening of demand, especially the expectation of downward pressure on China's economy, has become the core factor
suppressing the performance of copper prices.
In addition, the recent supply of copper concentrate market is sufficient, domestic smelter operating rates remain high, and the fundamentals trend weakened under the combined impact of weak demand combined with seasonal weakening
and rising production.
Copper prices are expected to remain range-bound this week
.