Shanghai copper is running strongly, and will enter a rebound stage in the short term

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:01 Beijing time was 9203 US dollars / ton, up 22 US dollars, or 0.
25%.

In the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was 67230 yuan / ton, up 380 yuan, 110-170 liters; Guangdong spot 1# copper price was 66980 yuan / ton, up 330 yuan; Yangtze River spot 1# copper 67270 yuan / ton, up 360 yuan, premium 160-liter 180; Shanghai spot 1# copper price was 67200 yuan / ton, up 340 yuan
.

Downstream mining continued to be sluggish, holders wanted to ship and realize, the market reflected quietly, and the overall transaction was weak
.
The US dollar index retreated, the pressure on the copper market eased, and the market risk aversion eased; Customs data showed that China's refined copper imports in May were 291,378.
19 tons, both down year-on-year, and copper concentrate imports rebounded in May, with a year-on-year increase of 15.
08%.

In terms of news, the official announcement landed on the stockpile, and the domestic inventory lasted for five weeks to go to the warehouse; Refined copper imports in May decreased year-on-year, power cuts in Guangdong have not fully recovered, supply-side pressure remains, and spot copper prices are expected to rise
slightly.

Copper prices met support on Monday, the dollar retreated, the market began to re-examine U.
S.
monetary policy after reflecting last week's Fed meeting, and Fed Chairman Jerome Powell's speech on the epidemic and the economy in Congress on Tuesday was a market concern
.
Back to the copper market, domestic and foreign inventories fell by several thousand tons on Monday, especially the recent three major indicators of domestic spot have turned positive, and it is estimated that short-term copper prices will enter a rebound stage
.