Copper prices stopped falling and rebounded and prices rose sharply

Today's Shanghai copper continued to strengthen, the main month 2203 contract opened at 70840 yuan / ton, the highest intraday 73040 yuan / ton, the lowest 70760 yuan / ton, settled 70240 yuan / ton, closed 73030 yuan / ton, up 2790 yuan, up 3.
97%.

The trading volume of the main 2203 contract of Shanghai copper increased by 71806 lots 142439 lots, and the position volume 157385 increased by 28323 lots
.

During the Asian session, London copper bottomed out and rebounded, and the latest quotation at 15:01 Beijing time was 10,142 US dollars / ton, up 47 US dollars, or 0.
46%.

In terms of the market, today's domestic spot copper prices soared, Yangtze River non-ferrous metal network 1# copper price was reported at 72300 yuan / ton, up 1780 yuan, 150-210 liters; Guangdong spot 1# copper price was reported at 72050 yuan / ton, up 1680 yuan / ton; Yangtze River spot 1# copper 72280 yuan / ton, up 1750 yuan, premium 140-liter 180; Shanghai spot 1# copper price was 72230 yuan / ton, up 1740 yuan
.

In the spot market, downstream enterprises have returned one after another, the sentiment of the receiving party is slightly cautious, and the trading of buyers and sellers is slightly deadlocked, but the overall transaction activity is warmer
than yesterday.
Investors' risk appetite has been repaired, coupled with global inflationary pressures remain high, while LME copper inventories have been declining, multiple favorable factors have stimulated copper prices to gain momentum, and short-term copper prices have
rebounded.

On the news, Peru's largest Las Bambas copper mine road blockade caused the mine to stop production, while the environmental permit of Canada's Morrison copper and gold mine was rejected again, the disturbance at the mine end and investors' concerns about the tightening of global copper inventories increased, and copper rose
during the day.