Shanghai copper trend is volatile, the market trading is quiet

During the Asian session, London copper ran low, and the latest quotation at 15:00 Beijing time was 7759 US dollars / ton, down 21 US dollars, or 0.
27%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 57460 yuan / ton, down 540 yuan, premium 30-90 liters; Guangdong spot 1# copper price was 57550 yuan / ton, down 430 yuan; Yangtze River spot 1# copper price 57510 yuan / ton, down 510 yuan, discount 20-discount 0; Shanghai spot 1# copper price was 57420 yuan / ton, down 500 yuan
.

In the spot market, the holders have reduced the premium, the downstream consumption is general, and the market is quiet
.
Copper concentrate processing fees TC continued to decline, although mines increased production next year, but smelter profit margins are still limited, but refined copper production is still picking up at the end of the year, while there is still support
on the consumer side.

On the news front, Freeport and four smelters in China reached an agreement to reduce copper processing and refining fees (TC/RC) fees by 4% from this year's level in 2021, the sixth consecutive year of reduction
.
Zambia, Africa's second-largest copper producer, expects copper production to rise to 1 million tonnes next year, compared with a target of 880,000 tonnes this year, an increase of 13.
6 percent
.
At present, the performance of domestic downstream power poles is relatively flat, other copper starts are better, and spot copper prices are expected to fall
today.