Market demand recovers, confidence improves, Shanghai copper opens high, oscillating operation

During the Asian session, the London copper high fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 9494 US dollars / ton, up 73 US dollars, or 0.
77%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River spot 1# copper 72450 yuan / ton, up 300 yuan, premium 440-liter 480; Yangtze River Comprehensive 1# copper price reported 72360 yuan / ton, up 210 yuan, premium 310-liter 430; Guangdong spot 1# copper price was reported at 72260 yuan / ton, up 330 yuan, premium 170-premium 370; Shanghai spot 1# copper price was 72435 yuan / ton, up 240 yuan
.

Spot premiums remained high, holders generally sold at high prices, and receivers were more willing to buy, but actual consumption was limited, and the overall demand was less replenished
.
The US dollar continued to weaken, the epidemic situation in Shanghai improved significantly, boosting the confidence of market demand recovery, coupled with frequent domestic policies, domestic and foreign inventories began to fall, and copper price support strengthened
.

In Botswana, where an underground accident at the Khoemacau Zone 5 copper and silver mine killed two people on Friday, the company said it had suspended operations
on Saturday.

Overall, Shanghai copper opened slightly higher, fluctuated in a narrow range during the day, and closed slightly up 0.
39%.

Domestic stable growth policies are frequent, the high level of the US dollar index continues to fall, copper stocks in Shanghai and London will no longer continue to rise, and copper will fluctuate
strongly.