Shanghai copper continues to fluctuate disorderly Market trading performance is still weak

During the Asian session, the trend of London copper first fell and then rose, and the latest quotation at 15:01 Beijing time was 7408 US dollars / ton, up 110 US dollars, or 1.
51%.

Today's domestic spot copper prices rose slightly, Yangtze River spot 1# copper 56700 yuan / ton, up 210 yuan, premium 280-liter 320; The Yangtze River Comprehensive 1# copper price was reported at 56610 yuan / ton, up 300 yuan, and the premium was 150-270; Guangdong spot 1# copper price reported 56520 yuan / ton, up 400 yuan, premium 20-liter 220; Shanghai spot 1# copper price was 56660 yuan / ton, up 270 yuan
.

In the spot market, the off-season effect is obvious, the willingness to replenish downstream is weakened, procurement is cautious, and the transaction performance is still weak
.
The US dollar continued to fall, and driven by the strengthening of most non-ferrous varieties, Shanghai copper followed, but the increase in copper inventories limited the increase, coupled with the improvement of domestic demand, it is difficult to be optimistic, short-term copper prices will continue to fluctuate
disorderly.

In terms of fundamentals, upstream copper mine inventories fell slightly, but they are still at a high level, the supply of raw materials for smelters is basically sufficient, superimposed on the sharp rise in sulfuric acid prices, and the smelter production enthusiasm is high driven by high profits; Although domestic refineries are in the maintenance period, electrolytic copper production is climbing
.
Copper prices have fallen sharply recently, and there is a fear of decline
downstream.
However, the current terminal industry is showing signs of slow recovery, market purchases have increased, inventories have fallen, and copper prices are expected to fluctuate strongly
.