Shanghai copper trend is strong, rising back to more than 70,000 yuan / ton

During the Asian session, London copper fluctuated downward, and the latest quotation at 15:01 Beijing time was 9776 US dollars / ton, down 80 US dollars, or 0.
81%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price reported 72720 yuan / ton, up 1530 yuan, premium 360-liter 420; Guangdong spot 1# copper price was reported at 72650 yuan / ton, up 1730 yuan; Yangtze River spot 1# copper 72710 yuan / ton, up 1430 yuan, premium 360-liter 380; Shanghai spot 1# copper price was 72665 yuan / ton, up 1440 yuan
.

In the spot market, merchants continue to adjust prices and shipments, downstream mining is still light, trading enthusiasm is under pressure, and the actual transaction is average
.
Recently the peripheral market is warm, the Fed interest rate meeting is still dovish, coupled with the simultaneous decline of copper inventories inside and outside, the center of gravity of copper prices has moved
up significantly.

Labor contract negotiations at Chile's Escondida copper mine, the world's largest copper mine project, entered a critical stage on Monday, with operator BHP submitting the final version of
the labor contract.

The recent rebound of the global epidemic, the number of new confirmed cases continues to increase, the market has eased concerns about the Fed's tightening of liquidity, the non-ferrous metal sector has collectively rebounded, Shanghai copper has risen to more than 70,000 yuan / ton, and China's post-flood reconstruction has ignited demand hopes, copper inventories continue to decline sharply, and copper is expected to rise
.