Shanghai copper's weakness continues The spot market is deadlocked

During the Asian session, the London copper high fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 7923 US dollars / ton, up 28 US dollars, or 0.
35%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 65290 yuan / ton, down 150 yuan, premium 520-560; The Yangtze River Comprehensive 1# copper price was reported at 65400 yuan / ton, down 130 yuan, and the premium was 590-710; Guangdong spot 1# copper price was reported at 65500 yuan / ton, down 110 yuan, premium 650-liter 850; Shanghai spot 1# copper price was 65100 yuan / ton, down 190 yuan
.

In the spot market, the price of the holder is strong, the downstream price is difficult to extract, the receiver is bargaining to replenish the stock, and the overall transaction is difficult to improve
.
The hawkish tone of many Fed officials continued to put pressure on the market, copper fundamentals are expected to weaken, supply and demand decrease to reduce price support decline, coupled with the domestic epidemic multi-point distribution of market confidence frustrated, Shanghai copper continued to be weak during the day, Shanghai copper lost 65,000 yuan
.

At present, domestic epidemic worries have stirred the market, fueling concerns about the prospect of recession, while the real estate industry continues to be weak, market confidence has been frustrated, downstream sentiment is cautious, real demand resilience has declined, the spot market has fallen into a stalemate, and spot copper may fall
.