Shanghai copper continues to decline at a low level or will continue to decline in the short term

During the Asian session, the volatility of the London copper plate intensified, and the latest quotation at 15:01 Beijing time was 9359 US dollars / ton, down 4 US dollars, or 0.
04%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 70330 yuan / ton, down 730 yuan, premium 1230-liter 1290; Guangdong spot 1# copper price was 69700 yuan / ton, down 900 yuan; Yangtze River spot 1# copper 70550 yuan / ton, down 650 yuan, premium 1380-liter 1580; Shanghai spot 1# copper price was 70325 yuan / ton, down 645 yuan
.

In the spot market, the holder sells at a high price, the quotation is high, the receiver is afraid to stop and watch, the transaction of low-priced goods is better, and the trading atmosphere is acceptable
.
Near-term electricity has eased, the disturbance to refined copper has weakened, and LME inventories have accumulated for the first time, the support for copper prices has weakened, and the pessimistic atmosphere of industrial products has not changed, and copper prices will continue to decline in the short term
.

Zijin Mining, China's largest gold producer, is fine-tuning plans to boost its capacity
to produce copper, zinc and gold and silver at its Buritica gold mine in Antioquia, Colombia.
A BHP executive said Wednesday that the global market will need four times as much nickel and twice as much copper over the next 30 years to help the world move toward decarbonization
.

Domestic real estate will continue to weaken to suppress the upside of copper prices, data from the National Bureau of Statistics shows that 70 large, medium and small cities commercial residential sales prices and development prosperity index show a downward trend, which affects the terminal consumption and financing demand of copper, and short-term market trading is still light, copper is expected to fall
.