Shanghai copper continues to be strong, and the demand outlook is optimistic, supporting prices

During the Asian session, London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 9609 US dollars / ton, down 15 US dollars, or 0.
16%.

In terms of the market, the price of domestic spot copper rose, and the price of Yangtze River nonferrous metal network 1# copper was reported at 71190 yuan / ton, up 1030 yuan, and the premium was 300-360; Guangdong spot 1# copper price was reported at 70920 yuan / ton, up 1060 yuan; Yangtze River spot 1# copper 71280 yuan / ton, up 1060 yuan, premium 390-liter 410; Shanghai spot 1# copper price was 71225 yuan / ton, up 1165 yuan
.

In the spot market, the downstream is afraid of heights and cautious, traders are less active, the performance of receiving goods near the end of the month is not good, and the overall trading is slightly cold
.
Overseas copper mine supply disturbance is still strong, domestic copper stocks continue to decline sharply, affected by bad weather, the transportation of copper concentrate to Henan is suspended, and the short-term continuation continues to support copper prices
.

On the news, the Fed still held a dovish tone, and London copper closed up $164 the following week; The second batch of domestic reserves was less than expected, copper stocks continued to decline, demand prospects were optimistic, copper prices were supported, and copper was expected to rise
.