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Copper rebound momentum is insufficient and returns to a downtrend at the end of the day

 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 #	35630-35830	Yuan/ton	70	Tax included
Shanghai spot	1# Copper	1 #	35440-35800	Yuan/ton	10	Tax included
Shanghai spot	Flat water copper		35440-35780	Yuan/ton	10	Tax included
Shanghai spot	Liters of copper		35460-35800	Yuan/ton	10	Tax included
Shanghai	1# Copper	1 #	35650-35750	Yuan/ton	100	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	33200-33400	Yuan/ton	0	Tax not included
Jinan spot	1# Copper	1 #	35800-35800	Yuan/ton	100	Tax included
Shenyang spot	1# Copper	1 #	35900-35900	Yuan/ton	100	Tax included
Beijing spot	1# Copper	1 #	35850-35850	Yuan/ton	100	Tax included
Tianjin spot	1# Copper	1 #	35850-35850	Yuan/ton	100	Tax included
Wuxi spot	1# Copper	1 #	35850-35850	Yuan/ton	100	Tax included
Xi'an spot	1# Copper	1 #	35900-35900	Yuan/ton	100	Tax included
Chongqing spot	1# Copper	1 #	35900-35900	Yuan/ton	100	Tax included
Guangzhou spot	1# Copper	1 #	35900-35900	Yuan/ton	70	Tax included
Wuhan spot	1# Copper	1 #	35850-35850	Yuan/ton	100	Tax included
Kunming spot	1# Copper	1 #	35950-35950	Yuan/ton	100	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 35630-35830 Yuan/ton 70 Tax included Shanghai spot 1# Copper 1# 35440-35800 Yuan/ton 10 Tax included Shanghai spot Flat water copper 35440-35780 Yuan/ton 10 Tax included Shanghai spot Liters of copper 35460-35800 Yuan/ton 10 Tax included Shanghai 1# Copper 1# 35650-35750 Yuan/ton 100 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 0 Tax not included Jinan spot 1# Copper 1# 35800-35800 Yuan/ton 100 Tax included Shenyang spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Beijing spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Tianjin spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Wuxi spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Xi'an spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Chongqing spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Guangzhou spot 1# Copper 1# 35900-35900 Yuan/ton 70 Tax included Wuhan spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Kunming spot 1# Copper 1# 35950-35950 Yuan/ton 100 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# 35630-35830 Yuan/ton 70 Tax included Guangdong spot 1# Copper 1# 35630-35830 Yuan/ton 70 Tax included Shanghai spot 1# Copper 1# 35440-35800 Yuan/ton 10 Tax included Shanghai spot 1# Copper 1# 35440-35800 Yuan/ton 10 Tax included Shanghai spot Flat water copper 35440-35780 Yuan/ton 10 Tax included Shanghai spot Flat water copper 35440-35780 Yuan/ton 10 Tax included Shanghai spot Liters of copper 35460-35800 Yuan/ton 10 Tax included Shanghai spot Liters of copper 35460-35800 Yuan/ton 10 Tax included Shanghai 1# Copper 1# 35650-35750 Yuan/ton 100 Tax included Shanghai 1# Copper 1# 35650-35750 Yuan/ton 100 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 0 Tax not included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 0 Tax not included Jinan spot 1# Copper 1# 35800-35800 Yuan/ton 100 Tax included Jinan spot 1# Copper 1# 35800-35800 Yuan/ton 100 Tax included Shenyang spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Shenyang spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Beijing spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Beijing spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Tianjin spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Tianjin spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Wuxi spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Wuxi spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Xi'an spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Xi'an spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Chongqing spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Chongqing spot 1# Copper 1# 35900-35900 Yuan/ton 100 Tax included Guangzhou spot 1# Copper 1# 35900-35900 Yuan/ton 70 Tax included Guangzhou spot 1# Copper 1# 35900-35900 Yuan/ton 70 Tax included Wuhan spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Wuhan spot 1# Copper 1# 35850-35850 Yuan/ton 100 Tax included Kunming spot 1# Copper 1# 35950-35950 Yuan/ton 100 Tax included Kunming spot 1# Copper 1# 35950-35950 Yuan/ton 100 Tax included

2.
Market review

Yesterday night, Shanghai copper rebound momentum was insufficient, the main 1607 contract finally closed at 35780 yuan / ton, down 120 yuan / ton, down 0.
33%.

Today's Shanghai copper decline continued, the current month 1704 contract opened at 36080 yuan / ton, as of 15:00 pm, the latest price is 35780 yuan / ton, down 380 yuan; The lowest price within the day was 35750 yuan / ton, and the highest price was 36220 yuan / ton
.
The main opening price of Shanghai copper was 35,700 yuan / ton, and as of 15:00 p.
m.
, the latest price was 35,410 yuan / ton, down 360 yuan; The lowest price within the day was 35290 yuan / ton, and the highest price was 35940 yuan / ton
.

Copper period

In the external market, London copper fluctuated at a low level yesterday, closing at $4640 / ton, down $14.
5 / ton, or 0.
31%.

The dollar was pushed higher
by comments from one Fed policymaker who said he would advocate a rate hike in June or July, while two others still expected up to three rate hikes this year.
The London Metal Exchange (LME) three-month copper was last reported at $4,644.
40 a tonne, down 0.
23%.

The contract closed nearly flat on Tuesday, with three-month copper broadly trading in the $4,594-4,717 tonne range over the past week
.

3.
Overview of the domestic copper market

On the macro front, most of the domestic and foreign economic data since May have performed poorly, which has faded market optimism, analysts said that China's economic growth is still expected to slow further, but no serious correction is expected, and China's commodity demand will slow, which will eventually affect commodity prices
.
In addition, the Fed's hawkish remarks are strong, reiterating that it will still raise interest rates twice this year, helping the dollar rise, commodities are under pressure, and copper prices at home and abroad are suppressed
.

In terms of the market, today's Shanghai electrolytic copper spot report discount 30 yuan / ton - premium 30 yuan / ton, flat water copper transaction price 35440 yuan / ton - 35780 yuan / ton, liter copper transaction price 35460 yuan / ton - 35800 yuan / ton
.
The day after the delivery month, the current copper premium quotation continued to be firm, and the holders rarely quoted, and the active receipt of goods led the market activity
.
After the start of the second quarter of trading, the selling sentiment eased and the supply increased, but the premium remained firm
.
Before the morning close, the market suddenly fell by nearly 300 yuan / ton, the gamblers who received the goods in the morning were besieged, and although the market premium quotation did not change, there was no one to buy the goods
.
Today's transaction is concentrated among traders, and there are few downstream buyers entering the market, and the overall transaction first rose and then declined
.

4.
Copper closing situation

Today, Shanghai copper rose slightly after the open, and then the dollar rose higher by the comprehensive recovery of inflation data in the United States in April, Shanghai copper plunged straight down, and the 1607 contract rose slightly at the end of the day to stabilize, and finally closed at 35380 yuan / ton, down 390 yuan / ton, down 1.
09%.

The total position of Shanghai copper increased by 15,450 lots to 760,000 lots, with a total transaction volume of 750,000 lots, of which 1,608 contracts increased by 10,848 lots, and the position gradually moved back or hit a reverse market
.
Today's Shanghai copper was dragged down sharply by the US dollar, and the rebound ended without a problem, once again away from the 5-day moving average, and paid attention to the support
around 35,000 yuan / ton in the evening.

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