Transactions continue to be weak and Shanghai copper fluctuates at a low level

Today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 42450 yuan / ton, down 570 yuan, premium 110-liter 170; Guangdong spot 1# copper price was reported at 42560 yuan / ton, down 590 yuan; Yangtze River spot 1# copper price 42510 yuan / ton, down 540 yuan, premium 180-liter 200; Shanghai spot 1# copper price was 42465 yuan / ton, down 395 yuan
.

Industry News:

1.
According to data released by the General Administration of Customs of China, China's copper scrap imports in March were 90,252 tons, down 11%
year-on-year.

2.
According to data released by the General Administration of Customs of China, China's imports of copper ore and its concentrate in March were 1.
78 million tons, an increase of 1.
03% year-on-year, due to increased purchases
from other sources.
Among them, Chile is still China's largest supplier of copper ore and its concentrate, with exports to China of 525,715 tons, down 10.
48%
year-on-year.

3.
According to data released by the General Administration of Customs of China, China's refined copper imports in March were 295,000 tons, an increase of 3.
7%
year-on-year.
Among them, Chile remains the largest supplier of refined copper to China, importing 94,000 tons of refined copper from Chile in March, up 16.
2%
year-on-year.

4.
Freeport-McMoran (FCX), listed on the New York Stock Exchange, announced on Friday that it would cut planned capital expenditures (CapEx) by 30% in 2020, while unveiling a new operating plan to address the coronavirus pandemic and its negative
impact on the global economy.

In the spot market, holders are actively shipping, trade flows stop before the holiday, downstream consumption is poor, and transactions continue to be weak
.
There are concerns about copper mine supply in the second quarter, the transmission of supply disturbances may appear in May, the policy increases to stimulate terminal consumption, and short-term copper prices are expected to fluctuate strongly
.