There is no news guidance for the market, and the decline in Shanghai copper continued in the late session

In terms of external trading, London copper opened at 6845 US dollars / ton, the initial test was 6826 US dollars / ton, and the overall operation was along the 6840 US dollars / ton line
.
Then the price recovered to the $6875/ton line, with an amplitude of about
$10.
The amplitude expanded in the afternoon, oscillating
in the range of 6865-6885 US dollars / ton.
After entering European time, copper prices climbed sharply, touching 6940 US dollars / ton and then giving up the rise slightly down, finishing at 6910 US dollars / ton line
.
Investors increased their risk appetite as the US dollar continued to strengthen and LME copper inventories increased by another 1,300 tonnes
.
London copper fell in a straight line, and the decline slowed after testing a low of 6863 US dollars / ton, and as of 16:45, it was 6965 US dollars / ton
.

In terms of the market, Shanghai copper opened low and went high, climbing all the way, the morning market flat water copper quotation discount 80 ~ 70 yuan / ton, good copper quotation discount 40 ~ 20 yuan / ton, the transaction is still deadlocked, compared with the good copper discount can be pressed to 50 yuan / ton, the transaction is
acceptable.
In the second trading session, base metals generally rose, copper accelerated, up nearly 300 yuan / ton, holders insisted on quotations, still no signs of expanding the discount, market supply and demand sides deadlock prominent
.
The demand for monthly tickets within the day has obviously not become popular, and the market has mostly quoted for the next month's tickets, so the overall transaction is not as good as the previous day, and the performance period is strong and weak
.
In the afternoon session, the willingness of holders to cash out was still low, and there was no intention to lower the quotation, and the stalemate continued
.
If flat water copper is discounted at 80 yuan / ton or good copper discount is 40 yuan / ton, it has a certain attraction
for traders.

In terms of stocks, as of May 25, COMEX copper stocks were 245,440 short tons, down 1,517 tons from the previous day; LME copper stocks were 293,450 tonnes, down 6,675 tonnes from the previous day; As of May 29, SSE futures inventories were 144633 tons, down 1,010 tons
from the previous day.

Chile's Codelco copper union said in an emailed statement that the Chilean government's choice of Juan Benavides as chairman of state-owned copper producer Codelco would damage the company's reputation
.
In 2010, Chilean antitrust authorities launched a joint investigation into three pharmaceutical companies, and Benavides was one of the chairmen of one
of them, Farmacias Ahumada.
Unions have expressed concern
about the company's appointment.

In the near future, copper spot performance is average, domestic destocking is not large, spot discount is maintained, supply and demand contradictions are not prominent, copper prices follow macro sentiment fluctuations, and the strong dollar continues to put pressure
on metals.
The main force of Shanghai copper is still entangled in the range of 51,000-52,000 yuan, and it is expected that the center of gravity of copper prices will continue to run
around 51,500 yuan in the absence of obvious positive or bearish news.
FYI
.