Shanghai copper opened low and rose sharply, and the market was good in the afternoon

During the Asian session, London copper opened low and went high, and the latest quotation at 15:01 Beijing time was 7626 US dollars / ton, up 182 US dollars, or 2.
44%.

In the spot market, holders followed the rise of the market and adjusted prices, the downstream maintained just need to purchase, the spot premium fell, the enthusiasm of receivers to enter the market to replenish the warehouse increased slightly, and the overall transaction performance was average
.
Today's domestic spot copper prices rose, Yangtze River spot 1# copper 64500 yuan / ton, up 630 yuan, premium 270-liter 310; The Yangtze River Comprehensive 1# copper price was reported at 64580 yuan / ton, up 650 yuan, and the premium was 310-430; Guangdong spot 1# copper price reported 64660 yuan / ton, up 670 yuan, premium 350-liter 550; Shanghai spot 1# copper price was 64420 yuan / ton, up 660 yuan
.

The Fed's aggressive interest rate hike reignited, copper futures once fell, coupled with weaker Chinese data, demand worries heated up sharply, but Asian stocks generally rose, suppressing safe-haven buying demand for the dollar, coupled with global copper inventories remained low and still provided support for futures, Shanghai copper rose strongly during the day
.

At present, the global recession is expected to heat up, China's weak PMI data has caused weak demand concerns, but the winter weather in Europe is still variable, coupled with the geopolitical turmoil is unresolved, the supply-side risk is difficult to lift, coupled with the decline in global copper production in September, internal and external inventories are still in a historical position, copper prices are still supported, in addition, the People's Bank of China on Monday once again said that it will strengthen credit support for the economy and keep the RMB stable, to a certain extent to stabilize market sentiment, copper
。