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Copper prices rebound slightly The short-term downtrend is nearing its end

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

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thermal conductivity copper

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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 #	35690-35890	Yuan/ton	-50	Tax included
Shanghai spot	1# Copper	1 #	35740-35860	Yuan/ton	0	Tax included
Shanghai spot	Flat water copper		35740-35840	Yuan/ton	0	Tax included
Shanghai spot	Liters of copper		35760-35860	Yuan/ton	0	Tax included
Shanghai	1# Copper	1 #	35700-35800	Yuan/ton	-50	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	33100-33300	Yuan/ton	0	Tax not included
Jinan spot	1# Copper	1 #	35850-35850	Yuan/ton	-50	Tax included
Shenyang spot	1# Copper	1 #	35950-35950	Yuan/ton	-50	Tax included
Beijing spot	1# Copper	1 #	35900-35900	Yuan/ton	-50	Tax included
Tianjin spot	1# Copper	1 #	35900-35900	Yuan/ton	-50	Tax included
Wuxi spot	1# Copper	1 #	35900-35900	Yuan/ton	-50	Tax included
Xi'an spot	1# Copper	1 #	35950-35950	Yuan/ton	-50	Tax included
Chongqing spot	1# Copper	1 #	35950-35950	Yuan/ton	-50	Tax included
Guangzhou spot	1# Copper	1 #	36000-36000	Yuan/ton	-50	Tax included
Wuhan spot	1# Copper	1 #	35900-35900	Yuan/ton	-50	Tax included
Kunming spot	1# Copper	1 #	36000-36000	Yuan/ton	-50	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 35690-35890 Yuan/ton -50 Tax included Shanghai spot 1# Copper 1# 35740-35860 Yuan/ton 0 Tax included Shanghai spot Flat water copper 35740-35840 Yuan/ton 0 Tax included Shanghai spot Liters of copper 35760-35860 Yuan/ton 0 Tax included Shanghai 1# Copper 1# 35700-35800 Yuan/ton -50 Tax included Foshan spot 1# Electrolytic copper plate 1# 33100-33300 Yuan/ton 0 Tax not included Jinan spot 1# Copper 1# 35850-35850 Yuan/ton -50 Tax included Shenyang spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Beijing spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Tianjin spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Wuxi spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Xi'an spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Chongqing spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Guangzhou spot 1# Copper 1# 36000-36000 Yuan/ton -50 Tax included Wuhan spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Kunming spot 1# Copper 1# 36000-36000 Yuan/ton -50 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# 35690-35890 Yuan/ton -50 Tax included Guangdong spot 1# Copper 1# 35690-35890 Yuan/ton -50 Tax included Shanghai spot 1# Copper 1# 35740-35860 Yuan/ton 0 Tax included Shanghai spot 1# Copper 1# 35740-35860 Yuan/ton 0 Tax included Shanghai spot Flat water copper 35740-35840 Yuan/ton 0 Tax included Shanghai spot Flat water copper 35740-35840 Yuan/ton 0 Tax included Shanghai spot Liters of copper 35760-35860 Yuan/ton 0 Tax included Shanghai spot Liters of copper 35760-35860 Yuan/ton 0 Tax included Shanghai 1# Copper 1# 35700-35800 Yuan/ton -50 Tax included Shanghai 1# Copper 1# 35700-35800 Yuan/ton -50 Tax included Foshan spot 1# Electrolytic copper plate 1# 33100-33300 Yuan/ton 0 Tax not included Foshan spot 1# Electrolytic copper plate 1# 33100-33300 Yuan/ton 0 Tax not included Jinan spot 1# Copper 1# 35850-35850 Yuan/ton -50 Tax included Jinan spot 1# Copper 1# 35850-35850 Yuan/ton -50 Tax included Shenyang spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Shenyang spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Beijing spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Beijing spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Tianjin spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Tianjin spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Wuxi spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Wuxi spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Xi'an spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Xi'an spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Chongqing spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Chongqing spot 1# Copper 1# 35950-35950 Yuan/ton -50 Tax included Guangzhou spot 1# Copper 1# 36000-36000 Yuan/ton -50 Tax included Guangzhou spot 1# Copper 1# 36000-36000 Yuan/ton -50 Tax included Wuhan spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Wuhan spot 1# Copper 1# 35900-35900 Yuan/ton -50 Tax included Kunming spot 1# Copper 1# 36000-36000 Yuan/ton -50 Tax included Kunming spot 1# Copper 1# 36000-36000 Yuan/ton -50 Tax included

2.
Market review

Yesterday's Shanghai copper rebounded after the overnight rebound, fell to 35690 yuan to stabilize and slightly rebounded, today, domestic copper prices rebounded slightly, prices maintained a narrow range
.
Shanghai copper's current month 1704 contract opened at 36300 yuan / ton, as of 15:00 pm, the latest price is 36390 yuan / ton, up 100 yuan; The lowest price within the day was 36050 yuan / ton, and the highest price was 36400 yuan / ton
.
The main opening price of Shanghai copper is 35880 yuan / ton, as of 15:00 pm, the latest price is 35970 yuan / ton, up 100 yuan; The lowest price within the day was 35690 yuan / ton, and the highest price was 36080 yuan / ton
.

Copper prices

In terms of the external market, yesterday's London copper rushed back down, there was a shock in the evening, the price bottomed out and recovered slightly, the lowest price of $4663 is a low in nearly a month, and very close to the previous low of $4631
.
Goldman Sachs was bullish on the dollar yesterday, expecting the dollar to rise 15% over the next two years, and the market believes that base metals may continue to come under pressure, and market sentiment is suppressed
.
Copper futures rose slightly after today's flat open, but still trading near one-month lows, weighed on fears of renewed weakness in China's economy, although a weaker dollar and stronger oil prices capped
losses.
Three-month copper on the London Metal Exchange rose 0.
69% to $4,712.
50 a tonne, almost unchanged
at the previous close.
Copper futures briefly hit a low of $
4,663.
50 since April 12 on Tuesday.

3.
Overview of the domestic copper market

On the macro front, risk aversion in financial markets weakened yesterday, European and American stock markets rebounded, international oil prices rose due to the deterioration of the security situation in African oil-producing countries, and copper prices slowed
down on the support of rising stock markets and oil prices.
In addition, the latest release of China's April PPI annual rate decline continued to narrow, which made the market slightly easing concerns about China's economic downturn, the non-ferrous metals market was supported, copper and aluminum have stabilized and rebounded, but the space and strength of the rebound should not be overly optimistic, and the long-term trend remains to be seen
.

In terms of the market, today's Shanghai electrolytic copper spot reported a premium of 10 yuan / ton - 40 yuan / ton, flat water copper trading price of 35740 yuan / ton - 35840 yuan / ton, and premium copper trading price of 35760 yuan / ton - 35860 yuan / ton
.
Shanghai copper fluctuated in a narrow range, and when it was close to delivery, the basis widened to around 120 yuan / ton the next month, which raised the current copper premium
.
In the morning, good copper from 20 yuan / ton to 40 yuan / ton, traders buy cash selling period is strong, the market once difficult to find flat water copper and wet copper, but also intensified the strength
of good copper rise.
The market continued to consolidate at a low level, and the downstream continued to buy goods on the dip
.
Today's trading is active and consistent, with traders leading the market
.

4.
Copper closing situation

Today's domestic copper prices rebounded slightly, but failed to break through last night's high, Shanghai copper above the 5-day moving average pressure, below focus on 35600 yuan / ton support, if you can break through here the downside space will further open
.
Now the short-term decline of Shanghai copper is in the final stage, the trend has begun to stabilize, there will be a few days of volatility, and the bull trend will rebound
.
In the medium term, the fundamentals have not improved, the downward trend of Shanghai copper continues, and the basic direction is still weak
.

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