Shanghai copper trend is strong, high prices suppress consumption

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:00 Beijing time was 8059.
5 US dollars / ton, up 9 US dollars, or 0.
11%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River nonferrous metal network 1# copper price was reported at 59180 yuan / ton, up 970 yuan, premium 150-liter 210; Guangdong spot 1# copper price was 59070 yuan / ton, up 900 yuan; Yangtze River spot 1# copper price 59260 yuan / ton, up 990 yuan, premium 220-liter 240; Shanghai spot 1# copper price was 59160 yuan / ton, up 1040 yuan
.

In the spot market, the quotations of holders were firm, high prices suppressed consumption, and low-priced sources traded well
.
Manufacturing data in major economies is good, commodity demand is relatively strong, the US dollar is weak, and the supply at the mine end is still tight, but domestic refined copper production continues to grow, scrap copper imports gradually increase, fundamental support is limited, copper prices or high volatility
.

In terms of news, China continues to promote the wave of new energy vehicle and photovoltaic development, and the industry has entered an accelerated development stage, which will drive copper market consumption; Recently, copper inventories in the previous period have accumulated, but the total inventory of the current exchange is still at a low level, while the tight state of the mine end continues, and spot copper prices are expected to rise
.