Shanghai copper under pressure downward copper consumption in the later period is still expected

During the Asian session, London copper fluctuated at a high level, and the latest quotation at 15:01 Beijing time was 9896 US dollars / ton, up 60 US dollars, or 0.
60%.

In terms of the market, today's domestic spot copper prices continued to fall, Yangtze River spot 1# copper 74010 yuan / ton, down 430 yuan, premium 420-liter 460; Yangtze River non-ferrous metal net 1# copper price reported 73970 yuan / ton, down 360 yuan, premium 370-liter 430; Guangdong spot 1# copper price was reported at 73700 yuan / ton, down 360 yuan; Shanghai spot 1# copper price was 73960 yuan / ton, down 430 yuan
.

In the spot market, traders were less active than yesterday, continuing to adjust prices and shipments, and receivers maintained on-demand procurement of low-priced sources, and the overall trading volume decreased
compared with yesterday.
Recently, the pessimistic atmosphere is pervasive, Shanghai copper is under pressure to the downside, coupled with the continuous surge of the US dollar index to suppress dollar-denominated commodities, coupled with the domestic epidemic has not yet improved, the market confidence in terminal expectations has declined, and the downstream operating rate is less than expected, and the copper price trend continues to be weak
.

The epidemic has put greater pressure on the domestic economy, and under the tone of stable growth, subsequent countries may introduce more stimulus policies to support the economy, and copper consumption can be expected
after the epidemic.
Last week's stocks fell by 18,800 tons from the previous week to 69,855 tons, although LME copper stocks have accumulated, but global inventories are still at historical lows, coupled with high inflation to support copper prices; copper prices may still be dominated by strong operation
.