Shanghai copper low volatility pay attention to the geopolitical situation and the Fed meeting

During the Asian session, London copper fluctuated sharply, and the latest quotation at 15:01 Beijing time was 9884 US dollars / ton, down 3 US dollars, or 0.
03%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River nonferrous metal network 1# copper price was reported at 1970 yuan / ton, down 290 yuan, premium 260-320; Guangdong spot 1# copper price was reported at 71730 yuan / ton, down 300 yuan; Yangtze River spot 1# copper 72030 yuan / ton, down 270 yuan, premium 330-370; Shanghai spot 1# copper price was 71780 yuan / ton, down 460 yuan
.

In the spot market, merchants actively enter the market to inquire, holders try to ship at a high price, receivers purchase on demand, trading activity is acceptable, and transaction performance is stable
.
The Russian-Ukrainian negotiations promote the easing of the geopolitical situation, coupled with the continued rise in US inflation, the strengthening of the US dollar, and the re-spread of the domestic epidemic, which dampens the rising sentiment of copper prices, and the overall short-term market atmosphere is empty, and copper prices are under pressure
.

For now, the geopolitical situation still brings greater uncertainty to the copper market, and if the conflict continues, the global stagflation pressure increases, and if the conflict eases, the inflationary pressure is expected to weaken.

This week, pay attention to the geopolitical situation and the Fed interest rate meeting, and expect copper prices to run weakly
.