Shanghai copper high fell back Double Festival approaching the market to stock actively

During the Asian session, London copper fluctuated downward, and the latest quotation at 15:01 Beijing time was 9470 US dollars / ton, down 138 US dollars, or 1.
44%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 70520 yuan / ton, up 810 yuan, 140-200 liters; Guangdong spot 1# copper price was 70610 yuan / ton, up 900 yuan; Yangtze River spot 1# copper 70630 yuan / ton, up 880 yuan, premium 220-liter 320; Shanghai spot 1# copper price was 70550 yuan / ton, up 730 yuan
.

In the spot market, some holders are selling goods, downstream bargain hunting has increased, the double festival is approaching active stocking, the trading atmosphere is acceptable, and the overall trading volume is limited
.
The lack of obvious contradictions in the domestic market, and the economic data in August continued to fall, and the double festival was approaching, and the demand for downstream stocking increased, so short-term spot copper prices followed the rise, but the rise was difficult to sustain.

Codelco, the world's largest copper producer, said on Wednesday it had reached a pay deal
with workers representing the smaller Salvador copper mine in northern Chile.

The domestic August data continued to cool, except for the strong export data released in the previous period, the rest of the data fell to varying degrees in the year-on-year growth rate, and there was a demand for replenishment downstream before the long holiday, which supported consumption, and the activity of import transactions rebounded, and copper prices were expected to rise
.