Shanghai copper volatility is weak, and the market is generally flat

During the Asian electronic trading session on Monday, the London Metal Exchange (LME) was closed for the holiday
.

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 69800 yuan / ton, down 140 yuan, premium 70-liter 130; Guangdong spot 1# copper price was reported at 69920 yuan / ton, down 200 yuan / ton; Yangtze River spot 1# copper 69870 yuan / ton, down 110 yuan, premium 120-liter 160; Shanghai spot 1# copper price was 69,600 yuan / ton, down 200 yuan
.

In the spot market, traders actively adjust prices and shipments, receivers are cautious and wait-and-see, and trading is very quiet
.
Although the European energy problem has boosted the overall upward trend of nonferrous prices, it is approaching the traditional consumption off-season, spot transactions are light, copper prices lack sustained upward momentum, and copper prices still maintain volatile operation
in the short term.

Udokan Copper, owned by USM, the holding company of Russian billionaire Alisher Usmanov, announced that it has joined the United Nations Global Compact
.

In terms of news, Peru's Las Bambas copper mine stopped production and Chile will increase mining taxes, Inner Mongolia port transportation is restricted, copper mine supply disturbance strengthened, but transaction declined, the overall market was flat, and internal and external inventories lacked major changes, superimposed on the decline in spot premiums, it is expected that the rise and fall of copper is limited
.