Shanghai copper weak volatility market trading is cautious

During the Asian session, London copper fluctuated higher, and the latest quotation at 15:01 Beijing time was 9549 US dollars / ton, up 98 US dollars, or 1.
04%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River nonferrous metal network 1# copper price was reported at 70400 yuan / ton, down 290 yuan, premium 540-600; Guangdong spot 1# copper price reported 69950 yuan / ton, down 540 yuan; Yangtze River spot 1# copper 70290 yuan / ton, down 370 yuan, premium 360-liter 460; Shanghai spot 1# copper price was 70230 yuan / ton, down 435 yuan
.

In the spot market, holders quote premiums, receivers stop and wait and see just need to consume, trading is cautious, and the overall trading volume is average
.
The Fed has returned to hawkish signals, superimposed variants have caused market concerns to not be fully alleviated for the time being, and spot support is weakening, and copper prices are still weak
.

At present, the epidemic is reviving or more countries implement lockdowns, the reduction of overseas accumulation of port cargo has accelerated the unloading speed of port ships, downstream sentiment is cautious, coupled with domestic environmental restrictions due to the Winter Olympics, refiners are in a wait-and-see mood, demand is low, and copper is expected to fall
.