Shanghai copper trend is weak, the market remains cautious on the sidelines

During the Asian session, London copper ran weakly, and the latest quotation at 15:01 Beijing time was 7520 US dollars / ton, down 288 US dollars, or 3.
79%.

In terms of the market, today's domestic spot copper prices plummeted, Yangtze River spot 1# copper 56680 yuan / ton, down 1970 yuan, premium 260-300 liter; The Yangtze River Comprehensive 1# copper price was reported at 56550 yuan / ton, down 1990 yuan, and the premium was 90-210; Guangdong spot 1# copper price reported 56420 yuan / ton, down 2000 yuan, discount 80-liter 120; Shanghai spot 1# copper price was 56660 yuan / ton, down 1950 yuan
.

In the spot market, copper prices plummeted again, the sentiment of holders gradually increased, downstream long order trading was slightly active, receiving goods was more active, and trading volume rose
.
The global recession panic has spread, the aggressive interest rate hike of many central banks, coupled with the pressure of the strong dollar, copper prices are in a downward spiral trend, and the domestic fundamentals are weak, demand off-season, the market remains cautious and wait-and-see, today Shanghai copper continues to break down, there is no sign of
stopping.

In terms of industry, the current raw material supply side is relatively abundant, and it is expected that copper prices are expected to enter a low weak shock trend
.
It is estimated that copper prices are expected to stabilize and rebound until the third and
fourth quarters of the "gold nine silver ten" alternate.
The short-term market rallied and fell again
.