Non-ferrous metals collectively turned red and Shanghai copper showed a strong trend

During the Asian session, London copper fluctuated and climbed, and the latest quotation at 15:01 Beijing time was 7337 US dollars / ton, up 163 US dollars, or 2.
27%.

In the market, the price of domestic spot copper rose on Monday, Yangtze River spot 1# copper 55950 yuan / ton, up 610 yuan, premium 290-liter 330; The Yangtze River Comprehensive 1# copper price was reported at 55860 yuan / ton, up 630 yuan, and the premium was 160-280; Guangdong spot 1# copper price reported 55770 yuan / ton, up 650 yuan, premium 30-liter 230; Shanghai spot 1# copper price was 55890 yuan / ton, up 710 yuan
.

In the spot market, the holders are willing to sell at a high price, and the receivers maintain the purchase of just needs, mostly low-price source transactions, the overall trading atmosphere has warmed up, and the transaction volume has increased
.
The US dollar index fell, market sentiment heated up, non-ferrous metals collectively turned red, and Shanghai copper rebounded significantly to close up 3.
28% on the day, coupled with the improvement of spot trading, which will temporarily support the price rebound
.

Weekly copper inventories rose for seven consecutive weeks, and the current inventory level has risen above 70,000 tons, a three-month high
.
LME copper stocks are no longer falling and are now stable above
130,000 tonnes.
Domestic supply continues to increase, warehouse receipt inventory rebounds, but domestic spot premium expands, downstream and terminal purchases increase, will temporarily support the price rebound
.