Shanghai copper continues its decline The trend is relatively weak

During the Asian session, London copper bottomed out, and the latest quotation at 15:01 Beijing time was 8275 US dollars / ton, up 24 US dollars, or 0.
30%.

Today's domestic spot copper prices fell sharply, Yangtze River spot 1# copper reported 64370 yuan / ton, down 960 yuan, premium 130-liter 170; The Yangtze River Comprehensive 1# copper price was reported at 64360 yuan / ton, down 930 yuan, and the premium was 80-200; Guangdong spot 1# copper price was reported at 64350 yuan / ton, down 890 yuan, premium 30-230; Shanghai spot 1# copper price was 64250 yuan / ton, down 960 yuan
.

In the spot market, downstream buying has no initiative and sustainability, the receiving party is depressed, and the overall market transaction tends to be flat
.
The minutes of the Federal Reserve meeting were hawkish, non-ferrous metals fell across the board overnight, LME copper fell to a two-month low, the center of gravity of Shanghai copper continued to move downward, superimposed on the recovery of inventories and weak demand, which put pressure on prices, and short-term copper prices will continue to move
down.

Shanghai copper opened lower in early trading today, and the latest opening price of the main month 2303 contract was 64100 yuan / ton, down 890 yuan
.
Overseas inflation expectations are under pressure, suppressing copper prices, while the outlook for domestic demand is worrying, the current market feedback, downstream processing enterprises lack orders, operating rate continues to decline, downstream performance is relatively weak, market transactions are weak, coupled with the recovery of domestic inventory, the rise discount to a low level, copper prices under pressure weak operation, copper or fall.