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December 10 Shanghai copper afternoon review

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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Overnight, the Shanghai copper 2002 contract closed at 48,720 yuan / ton, up 1.
44%, with a volume of 137,000 lots, and long positions increased by 30,000 lots to 256,000 lots, and the main contract of Shanghai copper completed the monthly
change.
Copper prices rose last night, mainly as the optimism brought about by the US non-farm payrolls data continued to ferment, and British polls showed that the Conservatives were expected to win, boosting the pound to a seven-month high, which boosted copper prices to the upside
.

Shanghai copper

On the macro front, the market is currently focused on the key date of the Sino-US trade situation on December 15, and its uncertainty has kept the market cautious, with US stocks pulling back from record highs yesterday, gold holding steady around 1465, and copper prices continuing to rise
.

In terms of spot, due to the rise in market prices, it is expected that today's market transactions will continue to be blocked, and holders hope to take advantage of the high price as soon as possible, so the market selling sentiment has accelerated, and today's spot premium expectations have been significantly lowered
.
It is expected that today's Shanghai copper 48400-48900 yuan / ton, spot premium 70-liter 120 yuan / ton
.

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