Shanghai copper first rose and then suppressed, and the market weakened within the day

During the Asian session, London copper fluctuated to the bottom, and the latest quotation at 15:01 Beijing time was 7589 US dollars / ton, down 77 US dollars, or 1.
00%.

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River spot 1# copper 62,000 yuan / ton, up 210 yuan, premium 500-liter 540; The Yangtze River Comprehensive 1# copper price was reported at 62020 yuan / ton, up 260 yuan, and the premium was 480-600; Guangdong spot 1# copper price was reported at 62040 yuan / ton, up 320 yuan, premium 460-660; Shanghai spot 1# copper price was 61920 yuan / ton, up 220 yuan
.

In the spot market, the holders actively sell at high prices, the price is obvious, approaching the Mid-Autumn Festival holiday, the willingness of the receiver to purchase is acceptable, the source of low-priced goods is difficult to find, and the overall transaction volume is relatively limited
.
The US dollar strongly updated the 20-year high, the futures market atmosphere is difficult to say optimistic, non-ferrous metals continue to rebound momentum is insufficient, even if low inventories are still difficult to resist the bearish pressure, in the short term copper price highs are blocked and 62000 line
.

In terms of news, China's economic stimulus supports metal demand, the central bank will also take action to support the RMB exchange rate this week, and the promise to introduce new policy measures after the economic stimulus plan released in May, which greatly encouraged market confidence, and inventories are still tight, which also has some support for copper prices, coupled with the decline in production in major copper producing countries, however, the epidemic has spread again, putting pressure on the demand side, and copper is expected to rise and fall limited
.