Market panic soared and Shanghai copper ran low

During the Asian session, London copper fluctuated upward, and the latest quotation at 15:01 Beijing time was 9273 US dollars / ton, up 80 US dollars, or 0.
86%.

In terms of the market, today's domestic spot copper prices fell, 1# copper price was 68350 yuan / ton, down 860 yuan, premium 390-liter 450; Guangdong spot 1# copper price was reported at 68030 yuan / ton, down 880 yuan; Yangtze River spot 1# copper 68410 yuan / ton, down 880 yuan, premium 460-liter 480; Shanghai spot 1# copper price was 68340 yuan / ton, down 880 yuan
.

In the spot market, holders generally shipped at high prices, downstream consumption was not active, receivers were cautious, and overall trading was quiet
.
With renewed worries about the epidemic, panic soaring significantly, and the blockage of economic recovery dampening market sentiment, China plans to organize the release of the second batch of copper reserves in batches, and copper concentrate processing fees continue to rise
.

Industry news, it is understood that the third phase expansion project of Wushan Copper Mine has a total investment of 2.
1 billion yuan, which is planned to be completed by the end of 2025, with a utilization of about 76.
5 million tons of resources and a service life of 24 years
.
After the project is completed and reaches production, Wushan Copper Mine can rank among the top five underground copper mines in China
.

In terms of news, the overseas epidemic has rebounded again, there has been a large-scale outbreak, the global capital market has fallen comprehensively, copper prices have also fallen, the second batch of reserves is about to strike, and China's copper imports have decreased for the third consecutive month, which has hit market sentiment and copper prices are expected to fall
.