Demand shows signs of recovery Shanghai copper trend is strong

During the Asian session, London copper trend is stronger, the latest quotation at 15:01 Beijing time is 10,004 US dollars / ton, up 21 US dollars, or 0.
21%.

In terms of the market, today's domestic spot copper prices rose, 1# copper price was 72260 yuan / ton, up 870 yuan, discount 120-discount 60; Guangdong spot 1# copper price reported 72230 yuan / ton, up 850 yuan; Yangtze River spot 1# copper 72330 yuan / ton, up 870 yuan, discount 40-discount 20; Shanghai spot 1# copper price was 72360 yuan / ton, up 990 yuan
.

In the spot market, traders are mainly circulating, downstream just need consumption, and the transaction performance is general
.
The global economic recovery expects, it is expected that the low level of the US dollar will support prices, and there are still expectations for destocking in the peak season, but the tight supply pattern has eased, and the supply of scrap copper continues to increase, which may restrict the upside
of copper prices.

In terms of news, South American mine policies are uncertain, copper mine supply is still uncertain, the world's largest copper producer Chile's National Copper Company (Codelco) said that if Congress passes the glacier protection bill, nearly 40% of the company's copper production will be at risk; The recent price pullback comes as demand shows signs of recovery and spot copper prices are expected to rise
.