Strong fundamentals Shanghai copper is expected to continue to run strongly

During the Asian session, London copper fluctuated at a low level, and the latest quotation at 15:01 Beijing time was 9419 US dollars / ton, down 51 US dollars, or 0.
53%.

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 69830 yuan / ton, up 350 yuan, premium 200-liter 260; Guangdong spot 1# copper price was 69750 yuan / ton, up 300 yuan; Yangtze River spot 1# copper 69870 yuan / ton, up 340 yuan, premium 230-liter 250; Shanghai spot 1# copper price was 69750 yuan / ton, up 255 yuan
.

In the spot market, the holder adjusted the price of shipments, the receiver was strong in price receiving, the downstream was afraid of heights, the trading activity declined, and the transaction declined
.
The US non-farm payrolls data was cold, the fall in the US dollar index boosted copper prices, and the weekly copper inventory in the previous period in China fell, plummeting more than 13,000 tons to 69,278 tons as of Friday, near a multi-year low, and strong fundamentals supported copper prices
.

In terms of news, copper inventories at home and abroad are both lower, especially domestic inventories are significantly lower than the level of previous years, Shanghai copper inventories fell 16% last week to a seven-month low, the fundamentals are strong, there is strong support for copper prices, short-term copper prices are expected to continue to run strongly, copper prices are expected to rise
slightly.