Shanghai copper is weak and volatile, and the overall trading performance of the market is average

During the Asian session, London copper fluctuated back, and the latest quotation at 15:01 Beijing time was 9518 US dollars / ton, down 26 US dollars, or 0.
27%.

In terms of the market, today's domestic spot copper prices fell, 1# copper price was 71340 yuan / ton, down 380 yuan, premium 470-liter 530; Guangdong spot 1# copper price reported 71130 yuan / ton, down 330 yuan; Yangtze River spot 1# copper 71370 yuan / ton, down 400 yuan, premium 450-liter 590; Shanghai spot 1# copper price was 71120 yuan / ton, down 455 yuan
.

In the spot market, merchants' willingness to adjust prices is not high, downstream fear of heights continues, trading is deadlocked, and the overall transaction performance is average
.
Although global copper inventories are still at a low level, domestic inventory warehouse receipts have rebounded slightly, after the impact of limited electricity production, China's October manufacturing PMI was less than expected, and the middle and downstream consumer demand was still weak, so domestic demand in November may maintain a relatively weak pattern
.

Industry news, foreign news October 31, Peru's Antamina copper-zinc mine said on Sunday that it has suspended operations, due to demonstrators set up barricades, they said that the mine did not fulfill its commitment
to support local communities.
On November 1, Indonesian cabinet ministers are pushing U.
S.
mining giant Freeport McMoRan to expand copper concentrate production to supply
a planned smelter in Papua's easternmost region.

At present, copper concentrate processing fee TC is under pressure, copper concentrate in 2022 is about to start long-term order negotiations, supply and demand sides began to game, recycled copper short-term supply is abundant, refined waste price spread rebounded, domestic inventory warehouse receipts are stable, coupled with the impact of previous restrictions on electricity, real estate and infrastructure and other fields show weak demand, and copper is expected to decline
slightly.