Macro uncertainty remains Copper prices are expected to remain volatile

Today's Shanghai copper running high, the main month 2103 contract opened at 58430 yuan / ton, the highest intraday 59030 yuan / ton, the lowest 58120 yuan / ton, settled 58590 yuan / ton, closed 58790 yuan / ton, up 890 yuan
.
The trading volume of the main 2103 contract of Shanghai copper increased by 5,702 lots throughout the day 102902 and the position decreased by 6,630 to 93,985
.

During the Asian session, London copper fluctuated trend, the latest quotation at 15:00 Beijing time was 7990 US dollars / ton, up 7 US dollars, or 0.
09%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 58840 yuan / ton, up 880 yuan, premium 50-liter 110; Guangdong spot 1# copper price was 58820 yuan / ton, up 830 yuan; Yangtze River spot 1# copper 58990 yuan / ton, up 870 yuan, premium 210-liter 230; Shanghai spot 1# copper price was 58915 yuan / ton, up 915 yuan
.

In the spot market, there are not many circulating supplies, the wait-and-see atmosphere is strong, the downstream consumption is weak, and the overall transaction is weak
.
Processing companies are generally on holiday, pre-holiday demand is weak, but for post-holiday demand recovery is more optimistic, the macro atmosphere is warm, the US fiscal stimulus measures have progressed, copper prices are temporarily supported
.

Recently, a series of local epidemics have affected the production and operation of some domestic enterprises, but the overall production and operation activities have remained expanded
.
Copper concentrate processing fees continue to be low, the supply of mines is still tight in the short term, and the inventory is relatively low overall, but the domestic market has entered a state of holiday, off-season consumption is relatively sluggish, macro uncertainty still exists, and copper prices are expected to remain volatile
.