The Shanghai copper shock went down, and the upward momentum was insufficient

During the Asian session, the trend of London copper showed a V shape, and the latest quotation at 15:01 Beijing time was 9944 US dollars / ton, down 11 US dollars, or 0.
12%.

In terms of the market, today's domestic spot copper prices are mixed, Yangtze River non-ferrous metal network 1# copper price is 71630 yuan / ton, down 30 yuan, premium 150-liter 210; Guangdong spot 1# copper price reported 71420 yuan / ton, down 10 yuan / ton; Yangtze River spot 1# copper 71640 yuan / ton, down 50 yuan, premium 170-liter 210; Shanghai spot 1# copper price was 71560 yuan / ton, up 10 yuan
.

In the spot market, holders actively ship at high prices, purchase downstream on demand, and spot transactions are
average.
The situation in Russia and Ukraine is still tense, which weakens the market risk appetite, superimposed on the more customs clearance after the holiday, and the increase in the circulation of imported copper has pulled down the premium, but the weakening of the US dollar has supported copper prices for several days, and short-term copper prices fluctuate.

In terms of news, the content of the Fed meeting minutes did not provide expectations for the rate hike in March, so the overall was not hawkish enough, the dollar index continued to fall, and the market risk appetite stabilized, which relatively supported copper prices; Yesterday's increase in overseas inventories led to a decline in hype enthusiasm, and copper prices are expected to remain high in the medium term
.
At present, macro uncertainty is still strong, superimposed on the rebound of LME copper stocks, insufficient upward momentum of copper futures, and weak short-term futures prices
.