Shanghai copper bottoming out The sustained rebound may be limited

During the Asian session, London copper rebounded higher after peaking, and the latest quotation at 15:01 Beijing time was 7572 US dollars / ton, up 27 US dollars, or 0.
35%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 58770 yuan / ton, down 280 yuan, premium 550-liter 590; The Yangtze River Comprehensive 1# copper price was reported at 58620 yuan / ton, down 260 yuan, 360-480 liters; Guangdong spot 1# copper price was reported at 58470 yuan / ton, down 240 yuan, premium 170-370; Shanghai spot 1# copper price was 58690 yuan / ton, down 390 yuan
.

In the spot market, the recovery of high underwater prices has generally made the downstream generally afraid of heights, holders generally sell at high prices, receivers are cautious and wait-and-see, the actual transaction is weakened, and the overall transaction volume is declining
.
The IMF once again lowered its global economic growth forecast, coupled with the Federal Reserve's interest rate decision, the overall market sentiment was more cautious, but the domestic refined copper destocking accelerated, spot support was significantly strengthened, and Shanghai copper rebounded slightly after rushing back
.

Today's Shanghai copper opened high, the latest opening price of the Shanghai copper 2209 contract was 58150 yuan / ton, up 100 yuan
.
China's policy banks began the first round of new investment projects, it can be seen that the domestic favorable policies to promote infrastructure to accelerate the confidence of the metal market, promote more copper market short covering, but the downstream actual demand is still weak, it is difficult to recover sharply, copper prices will be limited sustained rebound, copper is expected to rise
slightly.