The upward movement of Shanghai copper encountered obstruction, and the overall trading of the market fell

During the Asian session, London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 9478 US dollars / ton, up 22 US dollars, or 0.
23%.

In the market, today's domestic spot copper prices fell slightly, 1# copper price was 69460 yuan / ton, down 20 yuan, premium 260-320; Guangdong spot 1# copper price was 69270 yuan / ton, down 30 yuan; Yangtze River spot 1# copper 69530 yuan / ton, down 20 yuan, premium 320-liter 340; Shanghai spot 1# copper price was 69375 yuan / ton, down 115 yuan
.

In the spot market, the supply of circulating goods is tight, the sentiment of holders is not decreasing, the downstream is on the rise, the receiver maintains the purchase just needed, and the overall transaction declines
.
Better-than-expected trade data from China, the largest consumer, boosted the outlook for copper demand, but tepid spot demand weighed on demand in the world's largest copper consumer as high raw material prices drove buyers out of the market and slow manufacturing growth
.

In terms of news, the maintenance efforts of some enterprises weakened, and in June 2021, 22 sample enterprises produced a total of 745,700 tons of copper cathode, and the output rebounded month-on-month, an increase of 6.
65% year-on-year, and the speed of superimposed destocking will slow down, copper inventories will rise, the upward movement of Shanghai copper will be blocked, and copper prices will fall
slightly.