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    Home > Chemicals Industry > New Chemical Materials > Copper prices maintain a wide range of volatility patterns Poor consumption drags down prices

    Copper prices maintain a wide range of volatility patterns Poor consumption drags down prices

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Overnight, the main 04 contract of Shanghai copper in the morning market opened up to 70980 yuan / ton, and then fell back and sorted out around 70820 yuan / ton in a narrow range
    .
    Overnight, London copper opened at 9901 US dollars / ton, after the opening of the shock upward climbed 9956.
    5 US dollars / ton, and then fell sharply, continued to test down to 9794 US dollars / ton, the center of gravity recovered at the end of the day and finally closed at 9859.
    5 US dollars / ton, down 0.
    01%.

    Shanghai copper

    On the macro front, according to RIA Novosti, citing Ukrainian sources, Russia and Ukraine concluded peace talks and will return to their respective capitals for further consultations, and then hold a second round of negotiations
    .
    After the negotiations, the Ukrainian representative said that the two sides mainly discussed the ceasefire issue, and the parties will return to consultations and hold the next round of negotiations
    in the near future.

    From a fundamental point of view, in terms of Shanghai copper, TC prices continued to recover slightly last week, while downstream production resumed slowly, coupled with the continuous fermentation of the epidemic in Suzhou, Nantong and other places, consumption is currently dragged down to a certain extent.

    It shows that the holders try to actively ship, and the copper premium in South China shows a continuous downward trend
    .

    In terms of stocks, the LME slightly accumulated 0.
    05 million tons to 74,800 tons, and SHFE slightly accumulated 0.
    07 million tons to 70,800 tons
    .
    On the import side, the import window continued to close, and market trading continued to remain low
    .

    Overall, the market risk aversion has further heated up, and poor consumption has dragged down the performance of copper prices, and the current copper price has maintained a wide range of fluctuations on one side
    .

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