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    Home > Chemicals Industry > New Chemical Materials > December 27 Shanghai copper brief commentary

    December 27 Shanghai copper brief commentary

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
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    Today's Shanghai copper first rose and then suppressed, range-bound market-based, as of the end of the day closed Shanghai copper main 2202 contract closed at 69530, down 260, down 0.
    37%.

    Shanghai copper

    Christmas holiday external market paused, the US index fluctuated slightly, the market news calm on copper prices to promote the left and right limited, near the end of the year fundamentals copper demand weakened, global low inventories still support prices, long-term copper prices by the green energy transition still bring certain expectations for copper consumption, but the market is generally not optimistic about the 22-year copper market
    .

    In terms of inventory, the social treasury was 83,100 on December 24, down 02,700 tons
    from the previous month.
    SHFE weekly destocking was 3,550 tonnes to 6,656 tonnes, and LME weekly destocking was 125 tonnes to 892.
    75 million tonnes, maintaining a low inventory trend
    .

    It is expected that Shanghai copper will maintain a narrow range of volatility and pay attention to the narrow range of 6.
    95-70,200 narrow range oscillation space
    .
    Operationally, properly clean up inventory near the end of the year, and beware of inventory loss
    due to fluctuations at the beginning of 22 years and market differentiation in the first half of 22.

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