Shanghai copper trend is weak, market consumption is weak

During the Asian session, London copper rushed high resistance, the latest quotation at 15:01 Beijing time was 6742.
5 US dollars / ton, up 14.
5 US dollars, or 0.
22%.

In the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 51550 yuan / ton, down 240 yuan, 140 liters of water 200; Guangdong spot 1# copper price was 51420 yuan / ton, down 190 yuan; Yangtze River spot 1# copper price 51640 yuan / ton, down 230 yuan, premium 250-liter 270; Shanghai spot 1# copper price was 51610 yuan / ton, down 210 yuan
.

In the spot market, traders are forced to reduce their premiums for transactions, market consumption is diluted, downstream on-demand purchases, and transactions are general
.
The outlook for economic recovery in Europe and the United States is facing challenges, but China's economy continues to recover moderately, global copper concentrate remains tight, the market awaits consumption guidance, and short-term copper prices remain volatile
.

Chile's Escondida mine accepts new wage proposals, and the risk of strike at the world's largest copper mine is officially lifted; Citi reported copper losses below its forecast of 6.
6% of full-year mining as Chile emerged from the risk of pandemic-induced shutdowns and spot copper prices were expected to fall
today.