Shanghai copper shock operation may remain high in the short term

During the Asian session, London copper fluctuated weakly, and the latest quotation at 15:00 Beijing time was 6276.
5 US dollars / ton, down 20.
5 US dollars, or 0.
33%.

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River nonferrous metal network 1# copper price was reported at 50680 yuan / ton, up 40 yuan, 30-90 liters; Guangdong spot 1# copper price reported 50800 yuan / ton, up 90 yuan; Yangtze River spot 1# copper price 50720 yuan / ton, up 40 yuan, premium 80-liter 100; Shanghai spot 1# copper price was 50610 yuan / ton, up 30 yuan
.

In the spot market, speculators favor low-priced sources, fear of heights continues, downstream rigid demand is the mainstay, and the transaction atmosphere is light
.
Supply risks caused by the epidemic and the recovery of Chinese demand have provided strong support for copper prices, with satellite data showing that China's smelting activity in June was a small number of last month, and short-term copper prices may remain high and volatile
.

Last night's copper price correction was mainly affected by the surge in new crown cases in the United States, and the 3% plunge in U.
S.
stocks last night put pressure on copper prices and converged the recent rally
.
The pressure on supply from the epidemic situation in South America is still an important support for bulls, but the return of Sino-US trade relations to the horizon is expected to put pressure on risk assets in the short term, and copper prices are expected to face a correction shock today
.