Shanghai copper continues to be weak due to market concerns about the epidemic

In terms of external trading, during the Asian session, London copper opened low and went high, and the latest quotation at 15:00 Beijing time was 5232 US dollars / ton, up 3 US dollars, or 0.
06%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 43050 yuan / ton, down 570 yuan, discount 60-discount 0; Guangdong spot 1# copper price reported 43115 yuan / ton, down 655 yuan; Yangtze River spot 1# copper price 43140 yuan / ton, down 570 yuan, premium 50-liter 70; Shanghai spot 1# copper price was 43,080 yuan / ton, down 500 yuan
.

In the spot market, the willingness of holders to sell weakened, the activity of traders increased, and the downstream bargain replenishment
.
The impact of the epidemic has led to a decline in both supply and demand, and institutions expect that the global copper market will be oversupplied this year, short-term supply is tight, and copper prices lack strong support
.

The intraday Shanghai copper gap opened low, mainly due to increased market concerns about the possibility of a second wave of the epidemic
.
There was a cluster of infections in South Korea, and American infectious disease expert Fauci also said that the premature lifting of lockdown measures may lead to a further outbreak of the new crown epidemic, and the cooling of market risk appetite has suppressed copper prices; However, Zambia's temporary closure of the Zantan border due to the impact of the epidemic forced the delay of copper export business through Tanzania, investors' expectations of copper oversupply have eased, and copper prices have made up for today's gap
.
In the evening, wait for the guidance of the external market to test whether Shanghai copper can stand firm at the 43,000 yuan / ton mark
.