Shanghai copper running low, the overall trading volume of the market is acceptable

During the Asian session, London copper bottomed out, and the latest quotation at 15:01 Beijing time was 10,117 US dollars / ton, up 43.
5 US dollars, or 0.
43%.

In terms of the market, today's domestic spot copper prices plummeted, 1# copper price was 72300 yuan / ton, down 2480 yuan, discount 220-discount 160; Guangdong spot 1# copper price was reported at 72300 yuan / ton, down 2480 yuan; Yangtze River spot 1# copper 72430 yuan / ton, down 2470 yuan, discount 90-discount 70; Shanghai spot 1# copper price was 72475 yuan / ton, down 2385 yuan
.

In the spot market, the circulation supply is tight, the downstream bargain is purchased, and the overall transaction is
acceptable.
The news of national regulation and control put pressure on commodities, China's refined copper production continued to grow in April, and the downstream consumption season was not strong, but the supply of mines was still tight, copper mines were constantly disrupted, and copper prices were still supported
at the bottom.

In terms of news, China will curb the unreasonable rise in commodity prices, maintain the smooth operation of the economy, take multiple measures to strengthen the two-way adjustment of supply and demand, and strengthen market management; Glencore plans to restart production of the Mutanda copper and cobalt mine in the Democratic Republic of the Congo next year, and BHP's Escondida copper mine in Chile, which is expected to reach an agreement but is ready for a strike, and copper has fallen
sharply.