Shanghai copper intraday low volatility downstream transactions are relatively average

During the Asian session, London copper showed a "V" volatile trend, and the latest quotation at 15:01 Beijing time was 7834 US dollars / ton, up 4 US dollars, or 0.
05%.

Today's domestic spot copper prices fell, Yangtze River spot 1# copper 63330 yuan / ton, down 660 yuan, premium 160-liter 200; The Yangtze River Comprehensive 1# copper price was reported at 63280 yuan / ton, down 660 yuan, and the premium was 70-190; Guangdong spot 1# copper price was reported at 63220 yuan / ton, down 660 yuan, discount 130-discount 30; Shanghai spot 1# copper price was 63190 yuan / ton, down 700 yuan
.

In the spot market, the premium has been sharply reduced, the willingness of holders to exchange cash has increased, the downstream bargain hunting is the mainstay, buyers are more cautious about taking goods, and the spot trading volume has rebounded
.
Stronger-than-expected inflation data in the United States further reinforced bets on aggressive rate hikes by the Federal Reserve, and copper prices fell in response
.
Coupled with the high diving of domestic spot premiums, the support for copper prices weakened, and Shanghai copper bottomed out under pressure during the day
.

At present, the market tightening expectations have risen again, the focus is that the US inflation data in August exceeded market expectations, further strengthening the Fed's probability of raising interest rates by 100BP in September soared to 50%, copper prices rushed higher, domestic spot supply eased and premium fell weakened price support, and downstream transactions were relatively general, the willingness to chase higher was significantly weakened, and copper was expected to fall
.