Shanghai Copper Shock Falls The market still holds a wait-and-see attitude

During the Asian session, London copper fluctuated lower, and the latest quotation at 15:01 Beijing time was 9283 US dollars / ton, down 61 US dollars, or 0.
66%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 69400 yuan / ton, down 370 yuan, premium 200-liter 260; Guangdong spot 1# copper price was reported at 69440 yuan / ton, down 340 yuan; Yangtze River spot 1# copper 69450 yuan / ton, down 350 yuan, premium 260-liter 280; Shanghai spot 1# copper price was 69340 yuan / ton, down 270 yuan
.

In the spot market, the willingness of holders to adjust prices is general, and the downstream continues to fear heights, still holding a wait-and-see attitude, trading is deadlocked, and the overall transaction is weak
.
The news of the increase in supply at the mine end in Chile is frequent, the pressure on the domestic raw material side has eased, some processing enterprises are preparing to resume production, and the real estate investment is strictly controlled by national policies, and copper prices have stopped rebounding
in the short term.

Industry highlights, Codelco's Andina Mine Supervisores union agreed to a new pay deal
.
Australian mining company Newcrest Mining has approved a feasibility study and early engineering plan to invest in the Cadia Gold-Copper Mine Expansion Project, with early work commencing in the fourth quarter of this year and feasibility studies to be completed
in the third quarter of 2022.

The policy strictly controls the impact on real estate investment, and with the pressure on the raw material end has eased, some processing enterprises are ready to resume production, and with the recent continuous rise in copper prices, it has restricted downstream consumption, while easing the pressure of copper scrap, and copper prices have risen and fallen limitedly
.