Shanghai copper weak operation The actual trading of the market is slightly deadlocked

During the Asian session, London copper fluctuated and fell, and the latest quotation at 15:01 Beijing time was 7613 US dollars / ton, down 97 US dollars, or 1.
26%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River spot 1# copper 60180 yuan / ton, down 420 yuan, premium 280-liter 320; The Yangtze River Comprehensive 1# copper price was reported at 60250 yuan / ton, down 370 yuan, and the premium was 310-430; Guangdong spot 1# copper price reported 60310 yuan / ton, down 320 yuan, premium 330-530; Shanghai spot 1# copper price was 60,020 yuan / ton, down 380 yuan
.

Due to the continued destocking of inventory, the price of holders is still strong, and the downstream market is actively entering the market, and the sentiment of taking goods has rebounded compared with yesterday, but the actual transaction appears deadlocked, and the overall trading volume has fallen
sharply.
The strong dollar was helped by the hawkish Federal Reserve, coupled with concerns about geopolitical tensions in the Asia-Pacific region, weakened macro sentiment, although supported by low inventories, but still limited by weak demand, Shanghai copper continued to run
weakly.

Industry news, on July 29, Chile's National Copper Commission Cochilco said that the average copper price is expected to be $4 per pound in 2022 and $3.
90 per pound
in 2023.

At present, the overseas high inflation situation continues and the risk of recession deepens, metal demand is still not optimistic, China's refinery profits are still at a high level, production capacity continues to be released, and copper concentrate port inventories are still high, so this week's mine supply is relatively abundant, and overseas interference factors gradually recede, TC prices may continue to recover slightly, copper is expected to fall
.