Market prices are high and downstream consumption in the short-term copper market is suppressed

Today's Shanghai copper is weak and volatile, the main month 2106 contract opened at 77400 yuan / ton, the highest intraday 77430 yuan / ton, the lowest 74800 yuan / ton, the settlement 75860 yuan / ton, the close 76000 yuan / ton, down 740 yuan
.
The trading volume of the main 2106 contract of Shanghai copper increased by 32128 lots 313147 the whole day, and the position decreased by 12565 to 139280 lots
.

During the Asian session, London copper fluctuated upward, and the latest quotation at 15:01 Beijing time was 10470 US dollars / ton, up 74.
5 US dollars, or 0.
72%.

In terms of the market, today's domestic spot copper prices fell sharply, Yangtze River nonferrous metal network 1# copper price was reported at 75450 yuan / ton, down 1550 yuan, discount 60-discount 0; Guangdong spot 1# copper price was 75450 yuan / ton, down 1500 yuan; Yangtze River spot 1# copper 75480 yuan / ton, down 1570 yuan, discount 10-liter 10; Shanghai spot 1# copper price was 75350 yuan / ton, down 1550 yuan
.

In the spot market, traders are cautious and wait-and-see, downstream just demand-based, and the overall transaction is difficult
.
Investors are betting on the outlook for green sector demand, with growing expectations of global economic recovery and supply remaining tight at the fundamental mining end, although China's current poor performance in demand dampens gains
.

According to the agency, some smelters began maintenance in April, but some smelters had plans to rush production, crude copper processing remained high, and electrolytic copper production increased
month-on-month.
At present, market prices are high, short-term downstream consumption is suppressed, and spot copper prices are expected to fall
sharply.