Shanghai copper runs at a high level during the day, and the overall trading of the market is light

During the Asian session, London copper fluctuated and fell, and the latest quotation at 15:01 Beijing time was 8034 US dollars / ton, down 53 US dollars, or 0.
66%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River spot 1# copper 63720 yuan / ton, up 700 yuan, premium 680-liter 720; Yangtze River Comprehensive 1# copper price reported 63740 yuan / ton, up 770 yuan, premium 660-liter 780; Guangdong spot 1# copper price reported 63760 yuan / ton, up 840 yuan, premium 640-liter 840; Shanghai spot 1# copper price was 63620 yuan / ton, up 780 yuan
.

In the spot market, the premium is high, the supply is in short supply, the holders are holding the goods and selling strongly, the receivers are afraid of heights, and the overall transaction is light
.
Today's futures market atmosphere is good, nonferrous metals collective rise, coupled with the sharp decline in Shanghai copper inventories, the lowest since the middle of January, and power curtailment disturbances continue to affect copper supply, short-term spot is tight, copper prices are difficult to fall
deeply.

In terms of inventories, as of August 20, copper stocks on the London Metal Exchange (LME) decreased by 1,250 tons, or 1.
01%, to 122575 tons; As of August 22, the previous copper futures warehouse receipt was 3,682 tons, down 277 tons from the previous day; As of August 19, copper stocks in the previous period decreased by 10,606 tons to 31,205 tons, a decrease of 25.
37%.

Comprehensive analysis, the futures market atmosphere is optimistic and non-ferrous commodities are collectively red, Shanghai copper is running strongly, once soaring in the morning, approaching 2%, but then the market fell slightly and ran
under pressure.
The main reason is that the Fed continues to hawk, pushing up the already strong dollar, but the recent internal and external power disturbances are limited, and the impact of power cuts will continue to expand, and short-term supply pressure will slow down
.
In addition, the domestic central bank cut interest rates to revive market confidence, and the copper inventory in the previous period fell sharply, Shanghai copper is difficult to fall in the short term, or will continue to rise
.