Shanghai copper rushed back down and the weak demand did not improve

During the Asian session, London copper ran high, and the latest quotation at 15:01 Beijing time was 9550 US dollars / ton, up 69 US dollars, or 0.
73%.

In terms of the market, today's domestic spot copper prices rose, 1# copper price was reported at 71370 yuan / ton, up 450 yuan, premium 330-390; Guangdong spot 1# copper price was reported at 71420 yuan / ton, up 590 yuan; Yangtze River spot 1# copper 71470 yuan / ton, up 520 yuan, premium 350-liter 510; Shanghai spot 1# copper price was 71260 yuan / ton, up 380 yuan
.

In the spot market, the holder adjusts the price of the shipment, the receiver buys at the price on demand, the transaction is quiet, and the overall transaction is flat
.
Overseas mine production declined, domestic copper stocks were at a low level, strong support copper prices, but high premium water inhibited downstream consumption, supply and demand sides temporarily deadlocked, copper prices continued to fluctuate
up and down in the short term.

In terms of industry, Chile's copper production in September 2021 fell 16% year-on-year to 133,800 mt
, according to Cochilco, Chile's copper commission.
September output from Escondida, the world's largest copper mine owned by BHP Billiton, fell 12.
2% year-on-year to 82,600.
26 million mt
.

At present, power cuts still have a negative impact on supply and demand, and the current supply side will be more affected, but the bearish sentiment of downstream enterprises is gradually showing, mainly based on just demand procurement, and the weak demand state has not improved, and copper prices are expected to fall
slightly.