Shanghai copper's upward movement encountered resistance, and prices fluctuated and weakened

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River non-ferrous metal network 1# copper price was reported at 51470 yuan / ton, up 60 yuan, 30-90 liters; Guangdong spot 1# copper price was 51470 yuan / ton, up 60 yuan; Yangtze River spot 1# copper price 51560 yuan / ton, up 70 yuan, premium 130-liter 150; Shanghai spot 1# copper price was 51440 yuan / ton, up 15 yuan
.

In the spot market, traders are difficult to sell at low prices and high prices, downstream mining continues to be sluggish, and the overall transaction is still scorching
.
In the first seven months, China's copper imports increased by 34% year-on-year, and copper ore imports increased slightly by 0.
4% year-on-year; Chile is preparing to restart copper mine projects and operations that have been delayed due to the pandemic, and copper prices are under pressure above
.

In terms of stocks, copper stocks in the previous period increased by 1,829 tons to 159513 tons
from last week.
On Friday, copper stocks in the Shanghai Free Trade Zone fell by 02,000 tons from the previous week to 215,500 tons, and inventories showed a slight decline after three consecutive weeks of accumulation, mainly due to a relative decrease
in storage.

Shanghai copper opened low and weakened the session, closing at the small black candle.

Shanghai copper mid-line bull trend unchanged, short-term weak finishing, is still in the small shock range 50800-52200 running, volatility is not large, technically the bull trend has not changed short-term or in the shock range operation, the future still has the opportunity to return to strength after the shock
.