Shanghai copper volatility is strong, and a pullback may occur in the short term

During the Asian session, London copper continued to be strong, and the latest quotation at 15:00 Beijing time was 7623.
5 US dollars / ton, up 57.
5 US dollars, or 0.
76%.

In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River non-ferrous metal network 1# copper price was reported at 57420 yuan / ton, down 100 yuan, premium 120-liter 180; Guangdong spot 1# copper price was reported at 57420 yuan / ton, down 100 yuan; Yangtze River spot 1# copper price 57510 yuan / ton, down 100 yuan, premium 210-liter 230; Shanghai spot 1# copper price was 57340 yuan / ton, up 10 yuan
.

In the spot market, holders maintained high prices, high prices curbed consumption, and transactions were still scorching
.
Centinela, a small mine owned by Antofagasta, Chile, rejected a wage offer, paving the way for a strike; China's economic recovery continues to accelerate, and the marginal improvement in copper consumption supports higher prices, although a correction
may occur in the short term.

On the news front, Chile's Candelaria copper miners' union has accepted the new agreement, and Lundin Mining said that the strike is effectively over and is safely increasing operations to full capacity levels; Chile's copper production fell 0.
2% in October, but total production is still up 0.
4% year-to-date, domestic smelting production is showing an upward trend, short-term copper prices after a sharp rise in demand for adjustment, spot copper prices are expected to fall
today.