Shanghai copper fluctuated at a high level, and the overall market transaction was limited

During the Asian session, London copper opened low and went low, and the latest quotation at 15:00 Beijing time was 9198 US dollars / ton, down 71.
5 US dollars, or 0.
77%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River nonferrous metal network 1# copper price was reported at 67760 yuan / ton, up 1560 yuan, discount 40-liter 20; Guangdong spot 1# copper price is 67790 yuan / ton, find that 1570 yuan; Yangtze River spot 1# copper 67850 yuan / ton, up 1570 yuan, premium 40-liter 60; Shanghai spot 1# copper price was 67825 yuan / ton, up 1665 yuan
.

In the spot market, holders are reluctant to sell, downstream consumption is weak, and the overall transaction is limited
.
Demand has recovered due to overseas economic recovery, domestic consumption is expected to strengthen seasonally in March, and copper prices fluctuate
in the short term.

Copper concentrate processing fees are still declining, below $40/mt, and domestic supply and demand continue to be tight, although Chile and Peru supply are recovering; Southern Copper said that the time required to build new mines is twice as long as in the past, which means that the next 8-10 years will not see new supply, supply may be tightened for a long time, the current logic of demand recovery at home and abroad remains unchanged, spot copper prices are expected to rise
sharply.