Shanghai copper opened low and returned to the downward trend in the short term

During the Asian session, London copper fluctuated up and down around the moving average, and the latest quotation at 15:01 Beijing time was 8040 US dollars / ton, down 4 US dollars, or 0.
05%.

In terms of the market, the domestic spot copper price fell slightly, Yangtze River spot 1# copper 65460 yuan / ton, down 230 yuan, liter 460-500 liters; The Yangtze River Comprehensive 1# copper price was reported at 65350 yuan / ton, down 250 yuan, and the premium was 310-430; Guangdong spot 1# copper price reported 65230 yuan / ton, down 280 yuan, premium 150-350; Shanghai spot 1# copper price was 65320 yuan / ton, down 280 yuan
.

In the spot market, buyers and sellers are in a deadlock, holders are unwilling to adjust prices, receivers choose to wait and see, only some buyers enter the market to replenish the stock at low prices, and the overall trading activity is weak
.
China's November manufacturing PMI data is weak, aggravating the downward pressure on the market economy, and the current risk of running out has declined, weak consumption posture has been a fact, short-term Shanghai copper returned to the downward trend, but there is still low inventory support below, so the decline in copper is limited
.

At present, the global manufacturing industry is weak, major central banks have raised interest rates to curb inflation, raising concerns that global economic growth is slowing or even recession and weakening metal demand, domestic processing enterprise consumption is difficult to improve in the short term, downstream procurement is cautious and wait-and-see, and traders are more pressed prices to receive goods, coupled with the outbreak of the epidemic during the off-season, the already weak consumption situation is even worse, copper or a small decline
.