Shanghai copper volatility is weak, and the overall market transaction is quiet

During the Asian session, London copper was weak and volatile, and the latest quotation at 15:01 Beijing time was 9453 US dollars / ton, down 5 US dollars, or 0.
05%.

In terms of the market, today's domestic spot copper prices rose slightly, 1# copper price was reported at 68720 yuan / ton, up 90 yuan, premium 0-60; Guangdong spot 1# copper price reported 68550 yuan / ton, up 40 yuan; 1# copper 68820 yuan / ton, up 130 yuan, 120-liter 140; Shanghai spot 1# copper price was 68860 yuan / ton, up 220 yuan
.

In the spot market, downstream consumption is still not good, the receiving party maintains just demand and less mining, and the overall transaction is quiet
.
U.
S.
President Joe Biden accepted a $1.
2 trillion proposal to update U.
S.
roads, bridges and highways and help stimulate the economy
.
Copper is widely used in infrastructure projects
.
At present, although the downstream is approaching the end of the traditional peak season, the supply situation is still tight
.

Yesterday, London copper inventories surged 20%, hitting a new high in nearly a year; Coupled with the impact of domestic dumping and landing, downstream demand has slowed down and copper concentrate prices have continued to rise, so the impact of the supply side on copper prices is more negative, copper prices are under pressure, and copper prices are expected to rise and fall limited
.
Back in the copper market, LME inventories jumped by 33,000 tonnes
on Thursday.
Domestic spot is weak, and prices are still difficult to attract buying
.
The State Reserve Bank made it clear that the first batch of reserves will be dumped on July 5-6, with 20,000 tons
per month.
Technically, copper prices are in a narrow range to be broken
.