Shanghai copper trend is weak, the market trading atmosphere is weak

During the Asian session, London copper opened high, and the latest quotation at 15:00 Beijing time was 9032 US dollars / ton, up 108.
5 US dollars, or 1.
22%.

In terms of the market, today's domestic spot copper prices fell sharply, Yangtze River non-ferrous metal network 1# copper price was reported at 66170 yuan / ton, down 1020 yuan, discount 90-discount 30; Guangdong spot 1# copper price reported 66170 yuan / ton, down 1060 yuan; Yangtze River spot 1# copper 66230 yuan / ton, down 1090 yuan, discount 30-discount 10; Shanghai spot 1# copper price was 66120 yuan / ton, down 1080 yuan
.

In the spot market, traders are cautious and wait-and-see, downstream on-demand procurement is the mainstay, and the trading atmosphere is weak
.
At present, there is still no significant improvement in market consumption, but copper mine supply remains tight, Chilean copper mine strike is uncertain, waiting for the Federal Reserve meeting decision
.

In terms of news, Antofagasta's Chilean Pelambres miners will say they want to extend the mediation period, and the Chilean national copper company (Codelco) has been allowed to extend the Radomiro Tomic mining period
.
LME copper stocks climbed sharply yesterday to their highest level in more than two months, all from warehouses
in Rotterdam.
Downstream demand remains weak, but improvement expectations remain, with prospects for eurozone economic recovery dragged down by the suspension of the AstraZeneca vaccine, and spot copper prices expected to fall
.