Shanghai copper high volatility operation trading performance weakened

During the Asian session, the London copper high fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 10,775 US dollars / ton, up 175 US dollars, or 1.
65%.

In terms of the market, today's domestic spot copper prices soared, Yangtze River nonferrous metal network 1# copper price reported 75030 yuan / ton, up 2030 yuan, premium 70-liter 130; Guangdong spot 1# copper price reported 74940 yuan / ton, up 2090 yuan; Yangtze River spot 1# copper 75050 yuan / ton, up 2050 yuan, premium 100-liter 140; Shanghai spot 1# copper price was 75065 yuan / ton, up 2215 yuan
.

In the spot market, traders actively entered the market to inquire, and some merchants shipped at a high price, but the market circulation was slightly loose, and the downstream cautious inquiry just needed to be purchased, and the transaction performance weakened
.
Geopolitical tensions continue to deteriorate, and soaring oil prices, inflation expectations continue to rise, and concerns about metal cost supply, coupled with the fifth consecutive decline in LME copper inventories, strongly support copper prices upward, short-term copper prices run
high.

Overall, global copper smelting activity has declined, partly due to the suspension of smelter maintenance due to China's celebration of the Spring Festival and the holding of the Winter Olympics, while smelting activity in Europe and Africa has also declined, coupled with the short-term impact of domestic recycled VAT tax reform on recycled copper supply, resulting in a tightening of recycled copper supply, short-term support for copper prices, copper or rise
.