Shanghai copper strong trend Towards the end of the year, market participants are decreasing

During the Asian session, London copper bottomed out, and the latest quotation at 15:01 Beijing time was 9563 US dollars / ton, up 8 US dollars, or 0.
08%.

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River nonferrous metal network 1# copper price was reported at 69630 yuan / ton, up 160 yuan, premium 270-liter 330; Guangdong spot 1# copper price was reported at 69520 yuan / ton, up 270 yuan / ton; Yangtze River spot 1# copper 69620 yuan / ton, up 120 yuan, premium 250-liter 310; Shanghai spot 1# copper price was 69545 yuan / ton, up 140 yuan
.

In the spot market, holders sell their goods, while downstream buyers are sluggish, receiving sentiment is relatively low, and the transaction performance is average
.
Global risk appetite has rebounded, which is conducive to the recovery of copper prices, but the increase in LME copper inventories and the lingering impact of the epidemic have maintained a wide range of volatility
.

From a fundamental point of view, near the end of the year, enterprises will be in a state of closing and settlement, market participants are decreasing, the downstream continues to maintain a wait-and-see situation, and the overall transaction is dismal, but in the case of limited inventory, holders are unwilling to adjust prices significantly, so that the overall quotation remains
deadlocked.

Overall, global risk appetite has rebounded, but the impact of the epidemic is still lingering, and unilaterally maintaining a wide range of volatility and the judgment
of downside risks.