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Today's Shanghai copper shock operation, the end of the day down, the main month 2101 contract opened at 57250 yuan / ton, the highest intraday 57850 yuan / ton, the lowest 56960 yuan / ton, settlement 57340 yuan / ton, close 57030 yuan / ton, down 150 yuan
.
The trading volume of the main 2101 contract of Shanghai copper decreased by 37927 lots 185716 lots throughout the day, and the position decreased by 7440 to 121197 lots
.
During the Asian session, London copper fluctuated downward, and the latest quotation at 15:00 Beijing time was 7710 US dollars / ton, down 48 US dollars, or 0.
62%.
In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River non-ferrous metal network 1# copper price was reported at 57420 yuan / ton, up 100 yuan, premium 80-140; Guangdong spot 1# copper price was 57450 yuan / ton, up 120 yuan; Yangtze River spot 1# copper price 57490 yuan / ton, up 70 yuan, premium 170-liter 190; Shanghai spot 1# copper price was 57360 yuan / ton, up 100 yuan
.
In the spot market, the willingness of holders to adjust prices is not high, traders are afraid of heights, a small amount of replenishment is made downstream, and supply and demand are
deadlocked.
According to data from the General Administration of Customs, China's copper imports in November decreased by 9.
2% month-on-month, but increased by 16.
2% year-on-year, due to the closure of the favorable arbitrage window, the cumulative import volume in the first 11 months increased by 38.
7% year-on-year; Citi said it was "too hot to maneuver" and that while copper could "top" in the coming weeks, bulls could lose momentum, seasonal accumulation would increase, Chinese imports would decrease and supply would expand
.
Copper stocks rose by 4,871 tonnes last week to 97,783 tonnes, ending a losing streak
.
Vaccine good news has been frequent, and worries about the epidemic have been reduced, boosting overseas economic recovery expectations
.
Copper concentrate processing fees remained low, China's consumption at the end of the year was optimistic, the automotive industry continued to be strong, and spot copper prices were expected to rise
.
At present, China's economy is recovering steadily, enterprise production and operation activities continue to accelerate, and policies promote consumption in the terminal market
.
The China Association of Automobile Manufacturers expects auto sales to continue to grow month-on-month in November, and the association said that the domestic new energy passenger car market will have strong incremental momentum next year
.
At present, the marginal improvement of copper market consumption, the fourth quarter of the automobile consumption season, mine supply is still in a tight state, but the rise in smelting production and macro uncertainty may limit the rise in copper prices, and copper prices are expected to fluctuate
at a high level next week.
