echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Copper prices maintain a volatile trend The market trading atmosphere is acceptable

    Copper prices maintain a volatile trend The market trading atmosphere is acceptable

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper shock falls, the main month 2201 contract opened at 70160 yuan / ton, the highest intraday 70240 yuan / ton, the lowest 69390 yuan / ton, the settlement 69520 yuan / ton, the close 69570 yuan / ton, up 50 yuan, or 0.
    07%.

    The trading volume of the main 2201 contract of Shanghai copper increased by 14463 lots to 92258 contracts throughout the day, and the position volume decreased by 5619 lots 139268
    .

    During the Asian session, London copper fluctuated and rebounded, and the latest quotation at 15:01 Beijing time was 9573 US dollars / ton, up 36 US dollars, or 0.
    37%.

    In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River nonferrous metal network 1# copper price was reported at 69890 yuan / ton, up 40 yuan, 20-80 liters; Guangdong spot 1# copper price reported 70010 yuan / ton, stable; Yangtze River spot 1# copper 69960 yuan / ton, up 50 yuan, premium 80-liter 160; Shanghai spot 1# copper price was 69820 yuan / ton, up 55 yuan
    .

    In the spot market, the holders are selling their goods, and the receiving party's receiving sentiment has improved, and it is still mainly based on bargain hunting, and the trading atmosphere is acceptable
    .
    The domestic central bank's RRR cut to support copper prices is limited, and the direction of overseas contraction liquidity is clear, superimposed on new variant strains still aggravates the risk of market demand, but the overall copper inventory is still at a low level, and copper prices maintain a volatile trend
    under the interweaving of long and short.

    Shanghai copper opened higher during the day, and the latest opening price of the Shanghai copper 2201 contract was 69770 yuan / ton, up 250 yuan
    .
    The market continues to ease the variant strain, and the People's Bank of China launches a relatively loose monetary policy in a timely manner, which boosts the market's risk appetite sentiment, coupled with global copper inventories are still low, supply disturbances may increase, copper prices are expected to rise
    slightly compared with anti-decline.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.