Shanghai copper bottomed out, low inventories supported spot prices to hold steady

During the Asian session, London copper fluctuated higher, and the latest quotation at 15:01 Beijing time was 10,337 US dollars / ton, up 37 US dollars, or 0.
35%.

In terms of the market, today's domestic spot copper prices are mixed, Yangtze River spot 1# copper 74650 yuan / ton, up 20 yuan, premium 280-liter 320; The Yangtze River nonferrous metal net 1# copper price was reported at 74600 yuan / ton, up 10 yuan, 220-280 liters; Guangdong spot 1# copper price reported 74320 yuan / ton, down 70 yuan; Shanghai spot 1# copper price was 74405 yuan / ton, down 115 yuan
.

In the spot market, holders actively shipped, buyers inquired quietly, mostly chose to leave the market to wait and see, the overall transaction was quiet, and the trading volume was weaker than yesterday
.
Copper prices are under pressure due to the weak demand caused by the bearish macro atmosphere and the market focus on the epidemic, but the low inventory support is strong, and the optimistic expectations of the future market are supported, Shanghai copper opened low and went
higher.

Shanghai copper opened lower today, and the latest opening price of the Shanghai copper 2205 contract was 73790 yuan / ton, down 130 yuan
.
Domestic copper imports fell in March, according to customs data, unwrought copper and copper imports were 504,009 tons last month, down from 459,461 tons in February and 552,317 tons in the same period last year, down 8.
8% year-on-year, and the epidemic continued until automobile manufacturing and logistics were affected, but supported by low inventories, copper may remain stable
.