Copper runs at a high level and market trading continues to stalemate

During the Asian session, London copper opened high and low, and the latest quotation at 15:00 Beijing time was 8890.
5 US dollars / ton, down 59.
5 US dollars, or 0.
66%.

In terms of the market, the price of domestic spot copper rose, and the copper price of Yangtze River nonferrous metal network 1# was reported at 66320 yuan / ton, up 670 yuan, with a discount of 100-40; Guangdong spot 1# copper price was 66320 yuan / ton, up 700 yuan; Yangtze River spot 1# copper 66360 yuan / ton, up 620 yuan, discount 50-discount 10; Shanghai spot 1# copper price was 66235 yuan / ton, up 575 yuan
.

In the spot market, holders are waiting and seeing, downstream rigid demand is the mainstay, and transactions continue to stalemate
.
Previous inventories have not yet begun to dematerialize, LME inventories have recently risen in volatility, and signs of slowing demand have weighed on sentiment, but China's industrial data continues to improve
.

Copper stocks in the previous period increased slightly by 987 tons to 188359 tons last week, and the cumulative increase in the last eight weeks reached 183.
97%.

It is reported that Chinese copper smelters decided not to set a minimum standard for copper processing refining fees (TC/RCs) in the second quarter, saying that there is sufficient concentrate supply and is about to usher in a maintenance period, which may reduce copper supply by 200,000 tons, and the current processing and refining fees have fallen to a decade low, and spot copper prices are expected to rise
sharply during the day.