Shanghai copper opened high to the upside, and the actual transaction of the market was average

During the Asian session, London copper fluctuated higher in a narrow range, and the latest quotation at 15:01 Beijing time was 9626 US dollars / ton, up 146 US dollars, or 1.
54%.

In terms of the market, today's domestic spot copper prices rose sharply, 1# copper price was 72180 yuan / ton, up 1850 yuan, premium 2430-liter 2490; Guangdong spot 1# copper price was reported at 71280 yuan / ton, up 15800 yuan; Yangtze River spot 1# copper 72550 yuan / ton, up 2000 yuan, premium 2300-liter 2400; Shanghai spot 1# copper price was 72400 yuan / ton, up 2075 yuan
.

In the spot market, the premium rose sharply, the holders continued to hold the price, the receiver actively inquired, the downstream rose slightly wait-and-see, the overall trading performance was acceptable, and the actual transaction was average
.
Although the domestic power curtailment weakened, it continued to affect the release of electrolytic copper, and due to road transport resistance, it was difficult for northern goods to go south, coupled with the re-dematerialization of LME inventories, Shanghai copper rebounded strongly higher
.

Ivanhoe Mines has awarded China Ruilin Engineering a contract for a 500,000-tonne-per-year direct copper smelter at the Kamoa-Kakula complex
.
The smelter will be the largest of its kind in Africa and one of
the largest single-line flash smelters in the world.

Recently, global copper inventories have declined significantly, LME destocking 1850 tons to 97,600 tons, SHFE destocking 675 tons to 17709 tons; domestic northern transportation resistance caused goods to go south, mainly due to the shortage of containers and tight railway transportation, short-term market arrivals are insufficient, the phenomenon of shortage of goods is intensifying, and copper is expected to rise
.