Shanghai copper runs strongly, and the late rebound may be under pressure

During the Asian session, London copper jumped higher, and the latest quotation at 15:01 Beijing time was 7791 US dollars / ton, up 137 US dollars, or 1.
79%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River spot 1# copper 60140 yuan / ton, up 1370 yuan, premium 440-liter 480; The Yangtze River Comprehensive 1# copper price was reported at 60,050 yuan / ton, up 1,430 yuan, and the premium was 310-430; Guangdong spot 1# copper price was reported at 59960 yuan / ton, up 1490 yuan, premium 180-liter 380; Shanghai spot 1# copper price was 60,050 yuan / ton, up 1,360 yuan
.

In the spot market, although the holders have the willingness to raise prices, the downstream is afraid of on-demand procurement, and the receiving mood is more cautious, but the inventory is relatively tight, some downstream began to stock, and the overall transaction performance is average
.
The Fed's interest rate hike boots landed as scheduled, the dollar index plunged sharply, U.
S.
stocks rose across the board, market risk appetite heated up, non-ferrous metals ran strongly, Shanghai copper closed up at a high level, and the supply and demand side was steadily improving, superimposed on the decline in inventory drove spot premiums higher, further supporting a sharp rebound
in copper prices.

The Shanghai copper index rebounded continuously, and the high of the main contract exceeded 60,000 yuan / ton
.
A slight easing of macro bearishness and domestic spot tensions are important drivers
for the rebound in copper prices.
For the later stage, the short-term rebound of copper prices may be under pressure, but the medium-term trading center of gravity may become a high-probability event
.