Copper market consumption has not improved significantly, and downstream consumption is limited

Today's Shanghai copper bottomed out, accelerated upward in the afternoon, the main month 2106 contract opened at 69,000 yuan / ton, the highest intraday 69,820 yuan / ton, the lowest 67,880 yuan / ton, settled 68,720 yuan / ton, closed at 69,660 yuan / ton, up 840 yuan
.

During the Asian session, London copper climbed sharply, and the latest quotation at 15:01 Beijing time was 9422 US dollars / ton, up 240 US dollars, or 2.
61%.

In the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 68150 yuan / ton, down 400 yuan, discount 70-discount 10; Guangdong spot 1# copper price was 68040 yuan / ton, down 430 yuan; Yangtze River spot 1# copper 68160 yuan / ton, down 420 yuan, discount 60-discount 40; Shanghai spot 1# copper price was 68200 yuan / ton, down 350 yuan
.

In the spot market, the willingness to be low is low, downstream consumption is limited, and the transaction performance is flat
.
With the acceleration of vaccine rollout, the global recovery is expected to strengthen, and overseas demand is rising, there are still expectations
for peak season demand.

Copper inventories rose again last week, rising by 8,896 tonnes to 202464 t
.
In March, the growth rate of fixed asset investment slowed down, the poor demand of the cable industry affected copper rod consumption, scrap copper and electrolytic copper supply is relatively abundant, the current market consumption has not improved significantly, spot copper prices are expected to fall
.