Shanghai copper runs at a high level and narrows its gains slightly during the day

During the Asian session, London copper fluctuated weakly, and the latest quotation at 15:01 Beijing time was 7383 US dollars / ton, down 96 US dollars, or 1.
28%.

In terms of the market, today's domestic spot copper prices soared, Yangtze River spot 1# copper 62520 yuan / ton, up 970 yuan, premium 670-liter 710; Yangtze River Comprehensive 1# copper price reported 62340 yuan / ton, up 830 yuan, premium 450-liter 570; Guangdong spot 1# copper price reported 62160 yuan / ton, up 700 yuan, premium 230-liter 430; Shanghai spot 1# copper price was 62340 yuan / ton, up 960 yuan
.

In the spot market, the circulating supply is tight, the holders continue to hold prices, the downstream entry purchase increases, and the trading atmosphere is more active
.
The strong performance of the US index strengthens the Fed's interest rate hike path, but in the absence of new major bearish news, copper prices continue to fall is unlikely, the current domestic premium is as steady as ever, pre-holiday replenishment demand is stable and good, superimposed on the market's concerns about tight spots, Shanghai copper is running strongly during the day, and the rally is gratifying
.

At present, the fundamental supply side of the market circulation supply is small, spot is more tight, although some imported copper has supplemented the market, but it is difficult to hide the trend of cargo merchants raising the premium, consumer side, pre-holiday stocking effect, superimposed on the recent plate decline is obvious, the market trading atmosphere is still more active, downstream market procurement is increasing, the fundamental performance is healthy
.
At present, the macro and fundamental games, weak macro suppression dominates, copper prices are expected to continue to be weak and volatile
.