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February 21 copper market noon review

 Last Update: 2022-12-18
 Source: Internet
 Author: User

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The US dollar hit a new high in nearly three years, the metal was under full pressure, and the weak shock of copper closed down 0.
8% overnight; The copper market has a slow recovery, weak market transactions, high market inventories, and copper is expected to fall
slightly today.

Copper City

Today's Shanghai electrolytic copper spot contract reported a discount of 210 yuan / ton ~ discount of 170 yuan / ton, flat water copper trading price of 45880 yuan / ton ~ 45940 yuan / ton, and premium copper trading price of 45900 yuan / ton ~ 45960 yuan / ton
。 Shanghai copper continued to close slightly negative, but the spot market, traders in yesterday's big discount on the occasion of some of the receipt, today's morning market quotations stabilized and converged, the morning market good copper reported at the discount of 200-190 yuan / ton, flat water copper discount 210-200 yuan / ton, after a stalemate, due to today's sharp dumping phenomenon has been controlled, coupled with the decline in the plate, traders maintain an appropriate amount of receipt, the quotation is fully narrowed to a discount of 200 yuan / ton, good copper raised to a discount of 180-170 yuan / ton, wet copper self-discount 300 yuan / ton / The ton then narrowed to around
270 yuan / ton.

Today's receiving entities are not downstream, mostly traders collect low-priced goods to deliver long orders, but after the discount is significantly raised
, the transaction situation is not as good as the morning market.
Next week will enter the end of February, inventory is still accumulating, digestion will take time, but financial pressure will follow, and delivery warehouse receipts will gradually flow out, and it may be difficult
to shrink significantly.

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