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December 17 Shanghai copper brief commentary

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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copper 1 oxide

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Today's Shanghai copper opened high, the latest opening price of the Shanghai copper 2201 contract was 69220 yuan / ton, up 1280 yuan
.
The Shanghai copper main 2201 contract closed at 69370, up 2.
1%.

Peru's largest copper mine, which produces 2% of global production, halted after negotiations to end the lockdown failed; Copper mine supply shrinking concerns supported a sharp rebound in copper prices, which are expected to rise
.

Shanghai copper

The Fed rate hike is expected to land, with the news fluctuation impact gradually reduced, copper back to fundamental price guidance, the world's ninth largest copper mine Las Bambas will close and stop production, copper inventories at home and abroad are low, supply concerns form price support, but the demand side is in the off-season, trend momentum weakened
.

After today's high open, it is stable above 69,000, the restorative rebound market continues, the night session is expected to still have an upward test, the pressure level of the main force of Shanghai copper 70,000 is strong, and the operation of the upper merchant is mainly to reduce holdings at the high, and the downstream can be stocked on demand
.

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