The marginal demand for downstream consumption is good, and the trend of Shanghai copper is strong

During the Asian session, London copper bottomed out, and the latest quotation at 15:00 Beijing time was 6939.
5 US dollars / ton, up 23.
5 US dollars, or 0.
34%.

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 52,000 yuan / ton, up 140 yuan, 140-200 liters; Guangdong spot 1# copper price was 51900 yuan / ton, up 90 yuan; Yangtze River spot 1# copper price 52090 yuan / ton, up 150 yuan, premium 240-liter 260; Shanghai spot 1# copper price was 52020 yuan / ton, up 140 yuan
.

In the spot market, holders quoted firmly, large traders received goods, and downstream maintained rigid demand
.
Chile's copper production gradually recovered in the third quarter, but copper mine supply is still tight overall, epidemic concerns persist, and there are concerns about slowing economic recovery, but the marginal domestic downstream demand is good, and short-term copper prices fluctuate
at a high level.

In October, China's new energy vehicle production and sales increased sharply, the operating rate of downstream enterprises in the near future was good, the copper pipe operation increased month-on-month, the operating rate of fine copper rods was also higher than expected, and there was a possibility of annual rush for power grid investment; Copper concentrate processing fees remain low, restricting smelter production from today's spot copper prices
.