Shanghai copper runs strongly, and the trading performance of the spot market is average

During the Asian session, London copper trend is strong, the latest quotation at 15:01 Beijing time is 9646 US dollars / ton, down 28 US dollars, or 0.
29%.

On the macro front, the US non-farm payrolls rose by 199,000 after the December quarterly adjustment, far less than market expectations, but the Fed's concerns about tightening monetary policy have not eased
as the unemployment rate has progressed lower.
After the non-farm payrolls data, federal funds futures showed a 90% chance that the Fed would raise interest rates at its March meeting, putting some pressure
on copper prices.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 70090 yuan / ton, Zhang 280 yuan, premium 320-liter 380; Guangdong spot 1# copper price was 69950 yuan / ton, up 240 yuan; Yangtze River spot 1# copper 70050 yuan / ton, up 220 yuan, premium 290-liter 330; Shanghai spot 1# copper price was 70,050 yuan / ton, up 255 yuan
.
The trading performance of the spot market is general, the acceptance of high prices downstream of factory price increases is not high, the domestic social treasury is slightly destocked, and the low market inventory offset the adverse impact of the strengthening of the US dollar, supporting the upward
trend of copper prices.

Overall, Shanghai copper ran strongly during the day, with relatively limited volatility, closing up 0.
63%.

The market is still concerned about tightening liquidity, but the suppression of copper futures has eased slightly, and copper prices have been strongly volatile
due to the strengthening of some varieties of metals.