The dollar index climbed sharply and the trend of Shanghai copper was weak

During the Asian session, London copper fluctuated to the bottom, and the latest quotation at 15:01 Beijing time was 7312 US dollars / ton, down 133 US dollars, or 1.
78%.

In terms of the market, today's domestic spot copper prices plummeted, Yangtze River spot 1# copper 61750 yuan / ton, down 1440 yuan, premium 660-liter 700; The Yangtze River Comprehensive 1# copper price was reported at 61700 yuan / ton, down 1370 yuan, and the premium was 570-690; Guangdong spot 1# copper price was reported at 61640 yuan / ton, down 1310 yuan, premium 470-670; Shanghai spot 1# copper price was 61630 yuan / ton, down 1420 yuan
.

In the spot market, today's spot transaction is smooth, the enthusiasm for taking goods downstream is strong, the pre-holiday reserve is concentrated, the sentiment of holders is strong, and the spot premium is still at a high level
.
The hawkish Federal Reserve continues to strengthen the path of interest rate hikes, the dollar index climbed sharply to refresh the 20-year high, making the global economic outlook bleak, the market set off a wave of risk asset selling, coupled with London copper inventories soared to near a one-month high, copper bottom support weakened, Shanghai copper center of gravity shifted, the close of the day plunged nearly 3%.

Shanghai copper opened lower in the morning today, and the latest opening price of the main monthly 2210 contract was 61200 yuan / ton, down 1330 yuan
.
The negative macroeconomic outlook has dealt a blow to metal demand, as the Fed would rather see the economy fall into recession than continue to control inflation as its top priority, and the surge in copper inventories by one-fifth has discouraged the market, suppressing prices in the short term, and copper is expected to fall
.