Shanghai copper volatility climbed short-term price highs

In the external market, London copper fluctuated to the upside
last week.
The average price of LME copper in the first four trading days was 10153 US dollars / ton, up 139.
25 US dollars / ton per day; Last week's average price was $9864.
5/ton, up $288.
5/ton from the previous week's average price and up 2.
84%
month-on-month.

On the macro front, the Russia-Ukraine issue is still foggy, market risk aversion is still unabated, and the West has expanded sanctions against Russia, further seriously disrupting the exports
of this major metal producer.
Domestically, with the consumption season approaching, coupled with the upcoming two sessions in China, the market is expected to be one of the driving forces of favorable policies, and short-term copper prices are expected to continue to rise
.

In the market, last week, domestic spot copper prices fluctuated higher
.
The average price of Yangtze River spot 1# copper was 71802 yuan / ton, up 368 yuan / ton per day; The average price of the previous week was 71226 yuan / ton, up 576 yuan / ton compared with last week, up 0.
80%
from the previous week.
The center of gravity of copper prices continues to move upward, traders actively adjust prices and shipments, the overall quotation stabilizes, the downstream just needs to receive goods and there is a demand for long-term delivery, the enthusiasm for procurement has improved, and the overall trading is general
.

On the whole, the market uncertainty is high, and the financial market is under macro pressure
.
Coupled with the expansion of sanctions against Russia, the market is worried that Russia's main metal supply is facing the risk of disruption, and the supply tension is strengthened
.
The overall domestic consumption is weak, while continuing to accumulate, but with the arrival of the peak season and the scrap copper policy, it is beneficial to concentrate copper consumption, and the short-term copper price is high
.