Shanghai copper high open operation market volume is still limited

During the Asian session, London copper opened low and fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 10,321 US dollars / ton, down 39 US dollars, or 0.
38%.

Today's domestic spot copper prices rose, Yangtze River spot 1# copper 74260 yuan / ton, up 940 yuan, premium 430-liter 470; Yangtze River nonferrous metal net 1# copper price reported 74180 yuan / ton, up 870 yuan, premium 340-liter 400; Guangdong spot 1# copper price was 73770 yuan / ton, up 790; Shanghai spot 1# copper price was 74185 yuan / ton, up 795 yuan
.

In the spot market, Shanghai market holders have a strong price sentiment, while Foshan market has a dumping attitude, the two markets have different attitudes, but the downstream is cautious in the face of high premiums, wait-and-see sentiment is high, and the trading volume is still limited
.
The escalating epidemic in Shanghai has aggravated the market panic, and copper prices have been dragged down in the short term, but low inventories and continuous destocking have strongly supported prices, and spot premiums have continued to rise, and copper prices have run
strongly in the short term.

In terms of news, the spread of the epidemic in Shanghai has upgraded control efforts, increased storage costs have promoted the return of premiums, and logistics efficiency continues to suffer, arrivals have decreased, and copper inventories have continued to fall, supporting copper prices in the short term, and copper is expected to rise
.