Copper hit the high and lost some of the gains

During the Asian session, the high level of London copper fell, and the latest quotation at 15:01 Beijing time was 9610 US dollars / ton, down 18 US dollars, or 0.
19%.

In terms of the market, the price of domestic spot copper rose during the day, and the price of Yangtze River nonferrous metal network 1# copper was 71410 yuan / ton, up 680 yuan, 260-320 liters; Guangdong spot 1# copper price was 71170 yuan / ton, up 540 yuan; Yangtze River spot 1# copper 71520 yuan / ton, up 730 yuan, premium 310-liter 370; Shanghai spot 1# copper price was 71450 yuan / ton, up 690 yuan
.

In the spot market, traders are holding their goods and selling, receiving parties are afraid of high and waiting to see less, the overall demand is limited, and the transaction tends to be light
.
Low internal and external inventories support copper prices, coupled with favorable real estate policies, affect the recovery of market sentiment, and promote the price trend of real estate-related commodities, but the tightening of black category supervision and poor market sentiment of industrial products limit the rise in copper prices
.

Industry news, according to foreign media reports, Africa's backlog of copper cargo, including copper concentrate and intermediate products to refined copper, has brought great pressure to the spot market supply chain, and its impact is spreading to contract negotiations in 2022;

During the day, the main force of Shanghai copper hit the high and lost, rushing back down to converge some of the gains, and the Shanghai copper main 2112 contract closed at 70570, up 330, or 0.
47%.

The US index continued to put pressure on non-ferrous metals at a high level, and other non-ferrous metals such as tin and aluminum drove market confidence for a while, affecting the technical rise of Shanghai copper
.