Futures prices fell back from high levels Short-term copper prices showed a volatile operation

Today's Shanghai copper high fell, the main monthly 2111 contract opened at 73410 yuan / ton, the highest intraday 74960 yuan / ton, the lowest 72510 yuan / ton, settled 73640 yuan / ton, closed 72890 yuan / ton, down 750 yuan
.
The trading volume of the main 2111 contract of Shanghai copper decreased by 46,692 lots 151149 the whole day, and the position volume 119023 decreased by 12,466 lots
.

During the Asian session, London copper fluctuated and fell, and the latest quotation at 15:01 Beijing time was 9974 US dollars / ton, down 236 US dollars, or 2.
31%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price was reported at 75300 yuan / ton, up 1700 yuan, premium 380-liter 440; Guangdong spot 1# copper price was reported at 75260 yuan / ton, up 1710 yuan; Yangtze River spot 1# copper 75420 yuan / ton, up 1700 yuan, premium 500-liter 580; Shanghai spot 1# copper price was 75180 yuan / ton, up 1720 yuan
.

In the spot market, the holder sells at a high price, the receiver is bullish and stops, the sentiment of underpressure receipt continues, the buying is general, and the overall transaction is average
.
At present, the impact of domestic power cuts continues, some copper smelters are still affected, and London copper stocks and domestic stocks are dematerializing, the support for copper prices is relatively stable, but recently the National Development and Reform Commission has studied the implementation of intervention measures on coal prices in accordance with the law, market speculation has cooled rapidly, futures prices have fallen from high levels, and short-term copper prices have shown shock operation
.

The impact of limited electricity intensified, the increase in refined copper production in September was far less than expected, the power cut in October will continue, inventory tightening supply concerns have intensified, European energy crisis concerns are still there, interference with copper smelting is still probable, and spot copper prices are expected to rise
.