Shanghai copper faces pullback pressure The overall trading is relatively deadlocked

During the Asian session, London copper fluctuated weakly, and the latest quotation at 15:01 Beijing time was 8004 US dollars / ton, down 32 US dollars, or 0.
40%.

In terms of the market, the domestic spot copper price plummeted, Yangtze River spot 1# copper 65440 yuan / ton, down 1030 yuan, premium 490-premium 530; The Yangtze River Comprehensive 1# copper price was reported at 65530 yuan / ton, down 1020 yuan, and the premium was 540-660; Guangdong spot 1# copper price reported 65610 yuan / ton, down 1020 yuan, premium 580-780; Shanghai spot 1# copper price was 65290 yuan / ton, down 1060 yuan
.

In the spot market, the holders continued to hold the price, the actual demand downstream was weak, the receiver was cautious to inquire, the willingness to buy was not high, and the overall trading was relatively
deadlocked.
The Fed's round of "hawk" bombardment helped rise the dollar, the market risk appetite cooled down again, superimposed on the rise in inventories in the London and Shanghai markets, the supply increase was obvious, and the high price on the domestic downstream inhibition appeared, and the center of gravity of Shanghai copper continued to move down during the day, closing around
65,000 yuan / ton.

Shanghai copper opened lower in early trading during the day, and the latest opening price of the main monthly 2212 contract was 65030 yuan / ton, down 830 yuan
.
The performance of domestic demand in the traditional off-season is weaker than expected, and the marginal tightening of epidemic prevention and control policies has made terminal consumption weaker, copper inventories at home and abroad have increased, downstream fears of heights and less buying, and the trading performance stalemate affected by high prices and repeated epidemics, Shanghai copper is facing pullback pressure, and copper may fall.