Shanghai copper volatility is strong, and the fundamentals lack support

During the Asian session, London copper fluctuated strongly, and the latest quotation at 15:00 Beijing time was 8038.
5 US dollars / ton, up 44.
5 US dollars, or 0.
56%.

In terms of the market, today's domestic spot copper prices remained stable, Yangtze River non-ferrous metal network 1# copper price was reported at 59040 yuan / ton, up 10 yuan, 100-160 liters; Guangdong spot 1# copper price was 59100 yuan / ton, up 40 yuan; Yangtze River spot 1# copper price 59150 yuan / ton, down 20 yuan, premium 220-liter 240; Shanghai spot 1# copper price was 59,040 yuan / ton, up 10 yuan
.

In the spot market, there are many sources of circulating goods, the willingness to raise prices is still strong, downstream consumption is weakening, and trading is
deadlocked.
Expectations of further large-scale stimulus measures in the United States and a weaker dollar index, although there is a lack of support from fundamentals, weaker domestic consumption in the off-season, and volatile
copper prices.

Recently, exchange inventories have fallen further, global explicit inventories are at a relatively low level, while the tight situation of copper concentrate has not been adjusted, and processing fees continue to be low; China's economy is expected to continue to grow steadily this year, and the rapid development of the new energy automobile industry will support copper consumption, and spot aluminum prices are expected to rise
slightly.