Shanghai copper opened low and went low to continue its weak posture within the day

During the Asian session, London copper rushed back down, and the latest quotation at 15:01 Beijing time was 7524 US dollars / ton, down 7 US dollars, or 0.
10%.

In terms of the market, today's domestic spot copper prices plummeted, Yangtze River spot 1# copper 63750 yuan / ton, down 1200 yuan, premium 1080-liter 1120; Yangtze River Comprehensive 1# copper price reported 63530 yuan / ton, down 1410 yuan, premium 820-liter 940; Guangdong spot 1# copper price was 63300 yuan / ton, down 1620 yuan, premium 550-liter 750; Shanghai spot 1# copper price was 63580 yuan / ton, down 1150 yuan
.

In the spot market, the premium is still high after the month change, the holders have been lowering all the way to stimulate shipments, and the downstream chooses to wait and see on-demand procurement, and the transaction is still light
.
Shanghai copper opened low overnight, the intraday trend continued its weak posture, the market on the Fed in December interest rate hike 75 basis points heating up, will put copper prices to further downside risks, while Shanghai copper inventory warehouse receipts climbed above 70,000 tons, a more than seven-month high, which will limit the room
for copper prices to rebound.

Since entering October, inventories have accumulated, refined copper supply has remained stable, smelter profits continue to improve, coupled with the high domestic premium inhibits downstream procurement enthusiasm, spot trading sentiment is inferior, the market presents a priceless market, therefore, Shanghai copper consolidation, in the short term macro and micro continue to alternately affect copper prices, copper or fall.