Shanghai copper high running short-term adjustment treatment

During the Asian session, London copper fluctuated downward, and the latest quotation at 15:00 Beijing time was 7827.
5 US dollars / ton, down 19.
5 US dollars, or 0.
25%.

In the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 58140 yuan / ton, up 640 yuan, premium 80-liter 140; Guangdong spot 1# copper price was 58010 yuan / ton, up 650 yuan; Yangtze River spot 1# copper price 58190 yuan / ton, up 560 yuan, premium 110-liter 130; Shanghai spot 1# copper price was 58140 yuan / ton, up 570 yuan
.

In the spot market, holders are holding up prices, low-priced sources are traded in small quantities, and downstream just need to purchase, and trading is slightly
deadlocked.
Some contracts of MMG's Peruvian copper mine encountered "force majeure", and it is reported that Chinese copper smelters have accepted an 8.
6% reduction in copper concentrate processing and refining fees (TC/RCS) in the first quarter of next year compared with the level in the fourth quarter of this year, and the global market copper concentrate supply is tightening, basically facing copper price support
.

In the copper market, the decline in copper prices still met with consumer buying support, and low inventories remained the biggest support
in the market.
Wind and photovoltaic installations will almost double next year, which will become the basis for
China's consumption to maintain growth.
Chilean mines sign labor contracts on a large scale next year, and the disruption remains
.
The U.
S.
housing market retreated
.
Technically, copper prices are temporarily adjusted below $8,000, and $7,348 is the key support, and will continue to rise after subsequent
adjustments.
Short-term adjustment treatment
.