Shanghai copper continues to operate weakly, and the center of gravity has shifted downward

During the Asian session, the low of London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 7714 US dollars / ton, down 77 US dollars, or 0.
99%.

In terms of the market, today's domestic spot copper prices plummeted, Yangtze River spot 1# copper 61880 yuan / ton, down 1040 yuan, premium 460-500 liter; The Yangtze River Comprehensive 1# copper price was reported at 61830 yuan / ton, down 1080 yuan, and the premium was 370-490; Guangdong spot 1# copper price was reported at 61770 yuan / ton, down 1130 yuan, premium 270-470; Shanghai spot 1# copper price was 61740 yuan / ton, down 1060 yuan
.

In the spot market, imported copper and domestic copper arrived in concentrated and the enthusiasm for downstream replenishment was relatively good, and the overall buying transaction was enthusiastic, and the trading volume rebounded
.
The atmosphere of the futures market is not good, the macro bearish suppression is strong, the superimposed power curtailment lifts the supply pressure to recover, and the demand side is difficult to say optimistic, copper prices continue to operate weakly today, and the center of gravity has shifted
downward.

On the news front, China's manufacturing data for August was weak as the worst heatwave in six decades and a troubled real estate sector weighed
on industrial production.
Coupled with the recent power relief, copper smelters have resumed production one after another, which has improved the tight supply situation, and the weaker demand caused by the spread of the epidemic in many places in China has further put pressure on copper prices at the pressure level, and the risk of falling back has increased, and copper is expected to fall.