Shanghai copper opened low and went high, and the overall transaction volume of the market was flat

During the Asian session, London copper opened high and went higher, and the latest quotation at 15:01 Beijing time was 9929 US dollars / ton, up 70 US dollars, or 0.
71%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River nonferrous metal network 1# copper price was reported at 70880 yuan / ton, down 30 yuan, premium 50-liter 110; Guangdong spot 1# copper price was reported at 70680 yuan / ton, down 40 yuan; Yangtze River spot 1# copper 70880 yuan / ton, down 60 yuan, premium 60-liter 100; Shanghai spot 1# copper price was 70875 yuan / ton, up 25 yuan
.

In the spot market, holders continued to actively ship, receivers entered the market at low prices, a small amount of replenishment, limited demand, and overall flat transactions
.
The Russia-Ukraine war continues to raise market risk aversion, domestic downstream cautious atmosphere still dominates the spot market, sluggish consumption and increasing inventories, copper prices are difficult to perform
.

Australian mining company IGO Ltd said on Tuesday it halted talks with Britain-based Glencore Plc to acquire its CSA copper mine
in New South Wales, a week after entering exclusive discussions on the deal.

At present, the situation of the Russian-Ukrainian conflict has not improved, and the macro is bearish, but in the absence of a significant deterioration in the international geopolitical form, it has little impact on copper
.
In terms of spot, the domestic spot premium is low, and the downstream performance is sluggish, but it is expected that the consumption season will start in March, the situation may improve, and there is a short-term upward trend in copper prices
.