Shanghai copper fell back after soaring, and downstream consumption performance was average

During the Asian session, London copper volatility weakened, the latest quotation at 15:00 Beijing time was 7982 US dollars / ton, down 102 US dollars, or 1.
26%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price was reported at 59640 yuan / ton, up 1000 yuan, 10-70 liters; Guangdong spot 1# copper price was 59660 yuan / ton, up 1070 yuan; Yangtze River spot 1# copper price 59750 yuan / ton, up 1010 yuan, premium 210-liter 230; Shanghai spot 1# copper price was 59635 yuan / ton, up 935 yuan
.

In the spot market, traders mainly inquire about prices, receive goods cautiously, downstream consumption is general, and the transaction performance is not good
.
The chairman of the Federal Reserve said that interest rates will remain low, further fiscal stimulus measures are imminent in the United States, and an economic recovery plan will be drawn up next month to boost expectations of overseas demand recovery
.

In terms of news, Biden will unveil a $190 million economic relief plan focusing on subsidies for residents, which Bloomberg said will be the first step of a two-step strategy, followed by a broader plan
focused on long-term goals such as infrastructure and climate change.
The short-term stimulation of the arrow on the string has boosted copper prices, but the negative price of weak domestic consumption and accumulation risks still exists, and which trading logic the market chooses is the key
to the short-term copper price trend.
In the medium term, copper prices remain bullish, and the operation of bargain hunting is still the main trading idea
.