Shanghai copper is weak and volatile, and the overall trading activity of the market is better

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:01 Beijing time was 9310 US dollars / ton, up 41 US dollars, or 0.
44%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 68050 yuan / ton, down 650 yuan, premium 140-liter 200; Guangdong spot 1# copper price reported 67890 yuan / ton, down 600 yuan; Yangtze River spot 1# copper 68120 yuan / ton, down 630 yuan, premium 190-liter 210; Shanghai spot 1# copper price was 68025 yuan / ton, down 640 yuan
.
In the spot market, the price of the holders is obvious, the premium is higher, the downstream is on the high, and the trading activity is better
overall.

The dollar index strengthened slightly, while copper prices remained weak; Chile's copper output in May 2021 was 493,420 tonnes, rebounding month-on-month, but still below the same period last year.
However, the low processing fee of imported copper concentrate continued to rebound, and the supply of mines continued to recover; Refinery processing fees continued to rise, refined copper production grew rapidly, imports also showed growth rates, and supply showed signs of easing, so copper prices fluctuated
.

On the macro front, Fed Harker supports tapering of bond purchases later this year, saying the tapering cycle is a one-year tapering of $10 billion a month is justified
.
Watch for weekend non-farm payrolls guidance
on the path of US interest rate hikes.

In terms of news, the global copper mine supply is constantly recovering, the supply is in the process of continuous easing, coupled with the domestic export index has fallen month-on-month, and downstream consumer demand has slowed, so the current copper price is in shock, copper prices are expected to fall
.