Shanghai copper is weak and volatile, and the market is still unhappy

During the Asian session, London copper fluctuated trend, the latest quotation at 15:01 Beijing time was 9967 US dollars / ton, up 12 US dollars, or 0.
12%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River nonferrous metal network 1# copper price was reported at 71610 yuan / ton, down 40 yuan, premium 110-liter 170; Guangdong spot 1# copper price reported 71440 yuan / ton, unchanged; Yangtze River spot 1# copper 71590 yuan / ton, down 30 yuan, premium 100-liter 140; Shanghai spot 1# copper price was 71525 yuan / ton, down 15 yuan
.

In the spot market, the holder actively shipped and cleared the warehouse, lowered the premium, and the receiver just needed to inquire, and the transaction was not happy
.
The situation in Russia and Ukraine is uncertain, the market is still in a cautious state, coupled with the continued rise of Shanghai copper inventories, and downstream consumption on-demand procurement, copper prices continue to continue the range-bound trend
.

Industry news, Indonesian PT Smelting Company began to start the expansion of the East Java copper smelter, increasing the production capacity from the current 300,000 tons of copper cathodes per year to 342,000 tons
.

In terms of news, Peruvian copper mine road unlocked, copper supply tight expectations have eased, downstream on-demand procurement lack of willingness to chase higher, and refined waste price difference is not conducive to refined copper consumption, superimposed inventory increase, copper price short-term correction, copper is expected to fall
slightly.