Market sentiment tends to be cautious Copper prices have retreated slightly

During the Asian session, London copper fluctuated upward, and the latest quotation at 15:01 Beijing time was 8090 US dollars / ton, up 63 US dollars, or 0.
78%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River spot 1# copper 63480 yuan / ton, down 350 yuan, premium 550-590; Yangtze River Comprehensive 1# copper price reported 63590 yuan / ton, down 290 yuan, premium 620-liter 740; Guangdong spot 1# copper price was 63700 yuan / ton, down 220 yuan, premium 690-liter 890; Shanghai spot 1# copper price was 63360 yuan / ton, down 310 yuan
.

In the spot market, the source of circulating goods is still tight, the holders continue to hold the price, and the downstream enterprises are afraid of high and just need to purchase, and the willingness to trade is acceptable
.
In the context of the ongoing risk of global recession, the outlook for industrial metal demand is not optimistic, which constrains the rise, coupled with the recent macro atmosphere is slightly cautious, the market risk appetite is unstable, copper prices have slightly retreated
after continuous strengthening.

Weak global economic data exacerbates the risk of recession, in which major economies in Europe and the United States raised interest rates to curb high inflation, but made market sentiment cautious, further suppressed risk appetite, and also made the bearish atmosphere strong, which in turn dealt a heavy blow to metal prices, coupled with domestic demand side has not yet seen improvement, copper prices are under pressure, especially the real estate outlook is gloomy, continuing to drag down metal consumption performance, copper is expected to fall
slightly.