Shanghai copper briefly stopped falling and stabilized, and the downstream fear of decline intensified

During the Asian session, London copper rebounded from a low level, and the latest quotation at 15:01 Beijing time was 7663 US dollars / ton, up 67 US dollars, or 0.
88%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 58200 yuan / ton, down 300 yuan, premium 200-liter 240; The Yangtze River Comprehensive 1# copper price was reported at 58090 yuan / ton, down 320 yuan, and the premium was 50-170; Guangdong spot 1# copper price was 57980 yuan / ton, down 330 yuan, discount 100-liter 100; Shanghai spot 1# copper price was 58080 yuan / ton, down 220 yuan
.

In the spot market, the activity of traders' inquiry is weak, and under the plunge in successive days, the downstream fear of decline is aggravated, only need to consume on a single order, downstream inventory is generally backlogged, and the transaction is weak
.
The US dollar fell back during the day, supporting metal prices, but the macro bearish situation has not dissipated for the time being, and copper production is steadily increasing, the destocking range is slowing down, and Shanghai copper briefly stopped falling and stabilized
.

Today's Shanghai copper opened higher, the latest opening price of the Shanghai copper 2208 contract was 58350 yuan / ton, up 490 yuan
.
The domestic manufacturing industry has improved, but new orders are still insufficient, demand is slowing and the supply side continues to output to suppress copper prices, so downstream enterprises are afraid of falling and refusing to take the situation is intensifying, coupled with the off-season consumption is approaching, the weak situation is difficult to change, but the market has gradually digested the bearish impact, today or there will be a slight rebound, and long-term is still supported by new energy demand, copper is expected to rise
slightly.