echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > December 6 Shanghai copper brief commentary

    December 6 Shanghai copper brief commentary

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Shanghai copper opened lower today, with the main contract closing at 48980 points, down 0.
    89%.

    On the plate, Shanghai copper closed three consecutive black lines after the sharp rise at the beginning of the week, fell below the dense area of the moving average, and hovered around 49,000 at the end of the day, the rebound was weak, or there was still room for downside; and in terms of spot, today's good copper premium increased sharply to 400 yuan, which will continue to support copper prices
    in the short term.
    Pay attention to the Shanghai copper support level of 49,000, it is expected to be weak in the near future, and merchants have no goods to buy
    less.

    Shanghai copper

    South Reserve East China: Electrolytic copper 49330 yuan, down 150 yuan, premium quotation: 160 to 350, up 55
    .
    East China: Good copper supply continues to be in short supply, although the premium has been rising, but still favored by the market, after the flat water and wet method followed, buyers are less willing to receive goods, transaction is stagnant, downstream bargaining on demand to receive goods, the overall transaction is average
    .
    The premium copper mainstream trading pair futures contract premium 350-370 yuan, flat water copper premium 150-160 yuan, wet copper discount 30-50 yuan
    .

    South China Reserve: Electrolytic copper 49210 yuan, down 180 yuan, premium quotation: 120 to 140, up 20
    .
    Guangdong: As inventories continue to fall sharply to 31,000 tons, down 05,000 tons from the beginning of the week, and copper prices weaken, shippers continue to firmly hold prices and more shippers in the market, flat water copper quotation premium 120-140 yuan / ton, good copper because of large households selling good copper warehouse receipts, putting pressure on the premium, and flat water copper price difference is small, and downstream demand is boosted by the fall in copper prices, low-priced sources are fair, and high prices are difficult to trade, but some shippers are bullish after the market premium, and the willingness to adjust prices is not high
    。 The premium copper mainstream trading pair futures contract premium is 130-140 yuan / ton, flat water copper premium 120-130 yuan / ton, wet copper premium about 60 yuan / ton
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.