Shanghai copper opens low and goes low, and the market wait-and-see mood is strong

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 71810 yuan / ton, down 570 yuan, premium 300-360; Guangdong spot 1# copper price was 71500 yuan / ton, down 550 yuan; Yangtze River spot 1# copper 71850 yuan / ton, down 540 yuan, premium 360-liter 380; Shanghai spot 1# copper price was 71775 yuan / ton, down 595 yuan
.

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:01 Beijing time was 9775 US dollars / ton, up 115 US dollars, or 1.
19%.

In the spot market, funds tightened at the end of the month, the downstream wait-and-see mood was stronger, the receiving party was mainly based on just demand, and the overall transaction was average
.
The Fed's interest rate decision is still dovish, but the impact on copper prices is limited; The supply of mines continues to recover, the end of domestic smelter maintenance and the dumping of reserves by the national reserve will increase the supply of refined copper, while the copper market enters the demand season in July and August, and the domestic copper market is expected
to accumulate.

In terms of news, the supply of domestic upstream raw materials has gradually recovered, copper concentrate processing fees have continued to rise, and the market supply is sufficient, due to the pressure brought by the increase in copper mine supply and China's efforts to regulate commodity prices, short-term merchants are on the sidelines, and copper is expected to fall
slightly.