Shanghai copper continues to be strong, and the market is mainly wait-and-see

During the Asian session, London copper fluctuated at a low level, and the latest quotation at 15:01 Beijing time was 6972.
5 US dollars / ton, down 23.
5 US dollars, or 0.
34%.

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River non-ferrous metal network 1# copper price was reported at 52380 yuan / ton, up 100 yuan, 80 liters of water 140; Guangdong spot 1# copper price was 52230 yuan / ton, up 90 yuan; Yangtze River spot 1# copper price 52430 yuan / ton, up 80 yuan, premium 140-liter 160; Shanghai spot 1# copper price was 52365 yuan / ton, up 120 yuan
.

In the spot market, the willingness of holders to exchange cash is obvious, downstream consumption is weak, wait-and-see is the mainstay, and the transaction is very small
.
The supply of mines is gradually rebounding, domestic electrolytic copper production remains at a high level, the current consumption lacks bright spots, there is uncertainty in the macro surface, and short-term copper prices are mainly volatile
.

In terms of news, data from the World Bureau of Metal Statistics shows that the global copper market had a supply shortage of 447,000 tons from January to August 2020, compared with a supply shortage of 383,000 tons last year, and China's performance demand increased by 17.
5% year-on-year; China's economy continues to perform well, the market is relatively optimistic about future domestic demand, and spot copper prices are expected to rise
today.