The trend of Shanghai copper is weak, and the downside space is limited

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:00 Beijing time was 7807 US dollars / ton, up 38.
5 US dollars, or 0.
50%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 58,000 yuan / ton, down 90 yuan, premium 70-130; Guangdong spot 1# copper price was reported at 57980 yuan / ton, down 80 yuan; Yangtze River spot 1# copper price 58020 yuan / ton, down 150 yuan, premium 80-100 liter; Shanghai spot 1# copper price was 57920 yuan / ton, down 475 yuan
.

The wait-and-see mood in the spot market is strong, the downstream purchasing willingness is not high, and the trading before the change of month is weak
.
The epidemic situation in Europe and the United States is grim, and the new round of stimulus in the United States has not yet landed, but the current global copper inventory is at a low level, China's demand is expected to be better, and the downside of copper prices is limited
.

In terms of news, Chilean miners have successively reached salary agreements with their unions, and the mine continues to recover and strengthen
expectations.
Smelters have the possibility of impulse at the end of the year, and the tight situation of scrap copper will gradually ease, scrap copper imports will gradually arrive, the speed of customs clearance of scrap copper in the future market will accelerate, and spot copper prices are expected to fall
.