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Copper intraday weak finishing risk has not been fully released

 Last Update: 2022-12-02
 Source: Internet
 Author: User

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1.
Summary of copper prices in major domestic cities

market	name of article	Material	Price range		Change	remark
Guangdong spot	1# Copper	1 #	36990-37190	Yuan/ton	-300	Tax included
Shanghai spot	1# Copper	1 #	37000-37150	Yuan/ton	-315	Tax included
Shanghai spot	Flat water copper		37000-37100	Yuan/ton	-325	Tax included
Shanghai spot	Liters of copper		37030-37150	Yuan/ton	-310	Tax included
Shanghai	1# Copper	1 #	37000-37100	Yuan/ton	-300	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	34400-34600	Yuan/ton	-300	Tax not included
Jinan spot	1# Copper	1 #	37150-37150	Yuan/ton	-300	Tax included
Shenyang spot	1# Copper	1 #	37250-37250	Yuan/ton	-300	Tax included
Beijing spot	1# Copper	1 #	37200-37200	Yuan/ton	-300	Tax included
Tianjin spot	1# Copper	1 #	37200-37200	Yuan/ton	-300	Tax included
Wuxi spot	1# Copper	1 #	37200-37200	Yuan/ton	-300	Tax included
Xi'an spot	1# Copper	1 #	37250-37250	Yuan/ton	-300	Tax included
Chongqing spot	1# Copper	1 #	37250-37250	Yuan/ton	-300	Tax included
Guangzhou spot	1# Copper	1 #	37300-37300	Yuan/ton	-300	Tax included
Wuhan spot	1# Copper	1 #	37200-37200	Yuan/ton	-300	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 36990-37190 Yuan/ton -300 Tax included Shanghai spot 1# Copper 1# 37000-37150 Yuan/ton -315 Tax included Shanghai spot Flat water copper 37000-37100 Yuan/ton -325 Tax included Shanghai spot Liters of copper 37030-37150 Yuan/ton -310 Tax included Shanghai 1# Copper 1# 37000-37100 Yuan/ton -300 Tax included Foshan spot 1# Electrolytic copper plate 1# 34400-34600 Yuan/ton -300 Tax not included Jinan spot 1# Copper 1# 37150-37150 Yuan/ton -300 Tax included Shenyang spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Beijing spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Tianjin spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Wuxi spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Xi'an spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Chongqing spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Guangzhou spot 1# Copper 1# 37300-37300 Yuan/ton -300 Tax included Wuhan spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included market name of article Material Price range Change remark Market market Product name, product name Material material Price RangePrice Range Ups and downs Remarks Note: Remarks Guangdong spot 1# Copper 1# 36990-37190 Yuan/ton -300 Tax included Guangdong spot 1# Copper 1# 36990-37190 Yuan/ton -300 Tax included Shanghai spot 1# Copper 1# 37000-37150 Yuan/ton -315 Tax included Shanghai spot 1# Copper 1# 37000-37150 Yuan/ton -315 Tax included Shanghai spot Flat water copper 37000-37100 Yuan/ton -325 Tax included Shanghai spot Flat water copper 37000-37100 Yuan/ton -325 Tax included Shanghai spot Liters of copper 37030-37150 Yuan/ton -310 Tax included Shanghai spot Liters of copper 37030-37150 Yuan/ton -310 Tax included Shanghai 1# Copper 1# 37000-37100 Yuan/ton -300 Tax included Shanghai 1# Copper 1# 37000-37100 Yuan/ton -300 Tax included Foshan spot 1# Electrolytic copper plate 1# 34400-34600 Yuan/ton -300 Tax not included Foshan spot 1# Electrolytic copper plate 1# 34400-34600 Yuan/ton -300 Tax not included Jinan spot 1# Copper 1# 37150-37150 Yuan/ton -300 Tax included Jinan spot 1# Copper 1# 37150-37150 Yuan/ton -300 Tax included Shenyang spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Shenyang spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Beijing spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Beijing spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Tianjin spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Tianjin spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Wuxi spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Wuxi spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Xi'an spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Xi'an spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Chongqing spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Chongqing spot 1# Copper 1# 37250-37250 Yuan/ton -300 Tax included Guangzhou spot 1# Copper 1# 37300-37300 Yuan/ton -300 Tax included Guangzhou spot 1# Copper 1# 37300-37300 Yuan/ton -300 Tax included Wuhan spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included Wuhan spot 1# Copper 1# 37200-37200 Yuan/ton -300 Tax included

2.
Market review

Overnight, Shanghai copper fell step after the opening, the lowest down to 37190 yuan / ton, a slight pullback at the end of the day, and finally closed slightly lower
.
Today's Shanghai copper opened after the shock finish, the afternoon price volatility is weak
.
The opening price of the current month's 1602 contract was 36140 yuan / ton, and as of 15:00 p.
m.
, the latest price was 36130 yuan / ton, down 80 yuan; The lowest price within the day is 36120 yuan / ton, and the highest price is 36180 yuan / ton
.
The main opening price of Shanghai copper was 37680 yuan / ton, as of 15:00 pm, the latest price was 37230 yuan / ton, down 450 yuan; The lowest price during the day was 37140 yuan / ton, and the highest price was 37780 yuan / ton
.

Copper period

Externally, copper prices fell for the second day in a row today as weak global manufacturing data rattled the market, while recent signs of a pick-up in economic activity in China have just soothed
the market.
ANZ said in the report that disappointing data from China's manufacturing sector had raised some doubts among investors about the strong rally in recent weeks
.
The market is suspicious of a further price increase, and investors may close their positions
in the coming days.
Three-month copper on the London Metal Exchange (LME) fell as much as 0.
5 percent to $4,897.
50 a tonne, up 2.
6 percent
the previous day.
On Friday, the price hit a one-week high of 5073.
50 yuan
.

3.
Overview of the domestic copper market

On the macro front, it will be more difficult for the dollar to gain upward momentum before Fed tightening is possible again, but given that the Fed's April meeting has ended and the results of the meeting are in line with expectations, the market focus may return to whether Chinese data continue to show a pick-up in economic activity, and the Chinese economy will also affect the nerves
of the market in the future.
Overall, China's overall economic recovery shows signs of positive stability on copper prices and market psychology, but China's oversupply and huge inventories and concerns about demand always exist, and positive news from China is still not enough to support the continued surge in copper prices
.

During the May Day holiday, market merchants left the market to avoid safety, and the copper market was restricted
.
Today's Shanghai electrolytic copper spot reported a discount of 100 yuan / ton - discount of 20 yuan / ton, flat water copper transaction price of 37000 yuan / ton - 37100 yuan / ton, premium copper transaction price of 37030 yuan / ton - 37150 yuan / ton
.
Yesterday, most of the base metals closed down, London copper broke down, the domestic futures and cash copper prices fell under pressure, the market cautious atmosphere heated up significantly, buyers mainly
purchased on demand.
With the approach of the summer off-season, the industry is worried that there is still room for adjustment in short-term copper prices, and it is expected that market consumption will not improve significantly in the short term
.

4.
Copper closing situation

Today, after the opening, crude oil, black bottoming up, the dollar rushed back down, Shanghai copper intraday several times low after recovery, shock down to the lowest 37140 yuan / ton after stabilizing and rising, the end of the day weakened again, 1607 finally closed 37230 yuan / ton, down 450 yuan / ton, down 1.
19%.

Recently, Shanghai copper has continued to fluctuate and adjust, although the overall price correction range is limited, but the risk has not been fully released, and it is expected that there is still room for downside in the later period
.

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