Shanghai copper is weak and the market transaction is relatively quiet

During the Asian session, London copper fluctuated weakly, and the latest quotation at 15:01 Beijing time was 9802 US dollars / ton, down 48 US dollars, or 0.
48%.

Today's domestic spot copper prices fell slightly, Yangtze River nonferrous metal network 1# copper price was reported at 70830 yuan / ton, down 250 yuan, premium 100-liter 160; Guangdong spot 1# copper price was reported at 70620 yuan / ton, down 240 yuan / ton; Yangtze River spot 1# copper 70820 yuan / ton, down 390 yuan, premium 100-liter 140; Shanghai spot 1# copper price was 70,730 yuan / ton, down 340 yuan
.

In the spot market, the market continued to be cold, and receivers were cautious and wait-and-see, and the transaction was relatively quiet
.
Supply-side interference events are frequent, while LME copper inventories continue to decline, which has a greater support for copper prices, but after the holiday, domestic copper social inventories rebounded, and exceeded the level of the same period last year, superimposed on liquidity tightening expectations, copper prices trend is more cautious
.

Industry news, it is understood that PPC notified today that its Saga Seki copper smelter (annual capacity of 450,000 tons) was forced to carry out unplanned maintenance due to production equipment problems, and it is currently expected that it will not be able to ship to China in mid-to-late February and the whole month of March, and whether it can be normal production and export in April is unknown
.

During the Spring Festival long holiday, LME copper first fell and then rose, maintaining an upward trend, and it is expected that the Shanghai copper opening after the Shanghai Copper Festival will follow the mid-range rise in the external session
.