Shanghai copper runs strongly, and the market trading atmosphere is quiet

During the Asian session, London copper ran high, and the latest quotation at 15:01 Beijing time was 9921 US dollars / ton, up 64.
5 US dollars, or 0.
65%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price was reported at 72440 yuan / ton, up 1490 yuan, discount 110-discount 50; Guangdong spot 1# copper price was reported at 72360 yuan / ton, up 1480 yuan; Yangtze River spot 1# copper 72480 yuan / ton, up 1540 yuan, discount 80-discount 60; Shanghai spot 1# copper price was 72330 yuan / ton, up 1385 yuan
.

In the spot market, the supply of circulating goods has decreased, traders are cautious and wait-and-see, and the trading atmosphere is quiet
.
The Fed is dovish, the US dollar is weak, the supply of copper concentrate is still tight, and the growth of electrolytic copper production in the second quarter may slow, but high prices suppress consumption, and short-term copper prices fluctuate
high.

In terms of news, Goldman Sachs reported that it raised its copper price target to $11,000/ton for the next 12 months, due to insufficient investment in supply, and the gap reached a record size; Demand for copper related to decarbonization will rise to 5.
2 million mt by 2030, with a supply gap of 4.
5 million mt
for new copper projects by 2030/31, according to consultancy Wood MacKenzie.
The development of the green energy sector is driving demand growth, which is expected to contribute 2% of the demand increase during the year, and spot copper prices are expected to rise
today.