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    Home > Chemicals Industry > New Chemical Materials > December 1 Shanghai copper brief commentary

    December 1 Shanghai copper brief commentary

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
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    Today's Shanghai copper rebounded slightly during the day, and the rebound momentum after midday was weak again into the finishing range, and the main 2201 contract of Shanghai copper closed at 69650 at the end of the day, down 200, or 0.
    29%.

    Shanghai copper

    From a fundamental point of view, the final value of the PMI composite index of the copper downstream industry in November was 51.
    11, up 0.
    74 percentage points from the previous month; in November, stimulated by the end of a wide range of peak shifting electricity consumption nationwide, coupled with the slight relaxation of the state's regulation of the real estate market, all walks of life benefited slightly, and the comprehensive PMI rose
    .
    In terms of breakdown, the production index rose 1.
    07 percentage points to 51.
    59, the new orders index rose 0.
    8 percentage points to 50.
    97, and the cancellation of power cuts and the fact that raw material prices remained low for most of November, stimulating many companies to actively produce and catch up with orders
    .

    In terms of inventory, LME copper stocks decreased by 3,625 tonnes to 76,450 tonnes, the proportion of registered warehouse receipts rose to 86%, and the proportion of cancelled warehouse receipts decreased to 14%; SHFE copper warehouse receipts remained at 11,786 tonnes
    .

    The mutated new crown virus hit the confidence of the nonferrous market, and commodities fell collectively, but on the other hand, London copper inventories entered a low level, to a certain extent, supporting the price of the subsequent decline is limited, the recent Shanghai copper into a weak shock pattern, there are small signs of support during the day, pay attention to tomorrow's Shanghai copper or continue to stabilize, the overall environment remains weak, pay attention to the main force of Shanghai copper around 69,000 support, shock space 6.
    9-70,000
    .

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