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    Home > Chemicals Industry > New Chemical Materials > Copper prices are still on the sidelines in the short term

    Copper prices are still on the sidelines in the short term

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    On Tuesday, the main contract of Shanghai copper 1907 opened at 47290 yuan / ton in the morning, the center of gravity of the morning plate remained below the daily average of 47250 yuan / ton position narrow range shock finishing, the afternoon copper price performance slightly pulled up to the intraday high of 47310 yuan / ton, after the short-term high, the bulls reduced their positions, the plate fluctuated all the way down to 47110 yuan / ton, closed at 47130 yuan / ton, down 20 yuan / ton, down 0.
    04%.

    Copper prices

    In terms of external trading, London copper resumed the market, the opening directly jumped high to open 5995.
    5 US dollars / ton, the beginning of the short line to test the height of 6010 US dollars / ton, under pressure the daily average fell hovering around 5993 US dollars / ton, until the end of the Asian market, copper prices in the short line again touched the daily average, into the European market performance fell rapidly, the European market has tested a low of 5947 US dollars / ton, but then due to the high fall of the US dollar, copper prices began to bottom out, but then the performance was hindered at the daily average of 5982 US dollars / ton, as of 18:30, London copper reported $5973.
    5 / ton
    .

    In the market, the high of the US dollar fell, the London copper market opened high to 6,000 US dollars / ton after going low, and the Shanghai copper price was sorted
    out along the 47,200 yuan / ton line.
    The market has basically turned to the next month's invoice quotation, the spot premium continued the previous day's quotation, the holder quoted flat water ~ premium 50 yuan / ton, the overall performance of the market is weak, traders are still interested in the low-price flat water copper supply, flat water copper rose to 10 ~ 20 yuan / ton; Good copper supply is abundant, lack of favor, the quotation is lower to 30 yuan / ton, downstream to maintain rigid demand, wet copper supply is tight, quotation to discount 70 ~ discount 40 yuan / ton
    .
    Recently, the price difference between flat water copper and good copper has narrowed significantly, only in the range of 20~30 yuan / ton, which makes market trading more difficult
    .
    The overall transaction of the intraday market is general, the rebound of futures prices is blocked, spot does not show existing confidence for the time being, trade and downstream are cautious, short-term still shows a wait-and-see attitude, spot premium continues to stalemate pattern
    .
    In the afternoon, due to the stability and volatility of the market price, and many market participants went to participate in the Shanghai Derivatives Market Forum, the market trading was light, and the spot quotation was almost unchanged
    .
    In the afternoon, flat water copper reported 10-liter 20 yuan / ton, good copper reported 30-liter 50 yuan / ton, and the transaction price was in the range of 47130 yuan / ton - 47280 yuan / ton
    .

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