Shanghai copper runs at a high level The overall transaction volume of the market is flat

During the Asian session, the low of London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 10,384 US dollars / ton, down 48 US dollars, or 0.
46%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River spot 1# copper 74050 yuan / ton, up 260 yuan, premium 240-liter 280; Yangtze River non-ferrous metal net 1# copper price reported 73980 yuan / ton, up 330 yuan, 160-220 liters; Guangdong spot 1# copper price reported 73850 yuan / ton, up 280 yuan; Shanghai spot 1# copper price was 74,000 yuan / ton, up 320 yuan
.

In the spot market, merchants returning from the holiday showed positive price adjustment and shipment, the willingness of the receiving party to receive goods was still not high, the trading atmosphere performance was not bright enough, and the overall transaction today was flat
.
The high operation form of the epidemic in Shanghai is severe and the scope of lockdown has been extended to the obstruction of transportation, logistics and transportation, the limited supply of copper, coupled with the continuous destocking in China, copper prices are running strongly; However, the epidemic has also damaged downstream demand, and copper stocks have continued to rise, limiting the room for copper prices to rise
.

Overall, the loose real estate policy in many places in China still supports risk sentiment
.
From a fundamental point of view, domestic copper warehouse receipt inventories continue to decrease, spot remains premium, etc.
, will continue to support copper prices
.
However, high overseas inflation is likely to dampen economic growth, and the rise in copper inventories and the expansion of spot discounts will limit the space
above prices.