Shanghai copper weak operation The overall trading volume of the market is still light

During the Asian session, the narrow range of London copper volatility was weak, and the latest quotation at 15:01 Beijing time was 7980 US dollars / ton, down 75 US dollars, or 0.
94%.

Today's domestic spot copper prices plummeted, Yangtze River spot 1# copper 61750 yuan / ton, down 1410 yuan, premium 190-liter 230; The Yangtze River Comprehensive 1# copper price was reported at 61650 yuan / ton, down 1400 yuan, and the premium was 50-170; Guangdong spot 1# copper price reported 61550 yuan / ton, down 1380 yuan, discount 120-liter 80; Shanghai spot 1# copper price was 61630 yuan / ton, down 1460 yuan
.

In the spot market, the transaction situation showed a downward trend, the weakening of downstream consumption led to low enthusiasm for trading, and the receivers were mainly cautious and wait-and-see, buying
quietly.
The global central bank's aggressive interest rate hikes and recession fears persisted, and the supply gradually abundant and Shanghai-London copper inventories rose to a high level, coupled with domestic demand still weak, the center of gravity of Shanghai copper continued to break
downward.

Shanghai copper opened lower today, and the latest opening price of the Shanghai copper 2208 contract was 61220 yuan / ton, down 1370 yuan
.
Chile's copper production in May was 480275 tons, up 13.
88% month-on-month, and the increase in supply of copper mines in Africa is expected to increase, domestic smelters are stimulated by high profits to actively resume production, copper production continues to strengthen, making sufficient supply coupled with poor downstream consumption, the overall transaction is still light, spot quotations continue to fall, and copper is expected to fall
.
Today's copper price may stabilize at 61000-63500
.