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July 1 Shanghai copper afternoon review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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On Friday evening, Shanghai copper showed a strong trend, and the latest closing price of the main monthly 1908 contract was 47020 yuan / ton, up 20 yuan, or 0.
04%.

Falling oil prices dragged down copper prices, and good news from Sino-US trade talks at the G20 summit has improved market risk appetite, and copper is expected to rise
slightly today.

Shanghai copper

Due to the entry into the end of the month, the proportion of next month's tickets has increased, and the holders have gradually eliminated the sentiment of the previous firm quotation, and the willingness to cash out has been enhanced, and today's quotation still shows signs of
downward adjustment.
It is expected that today's Shanghai copper 46800-47300 yuan / ton
.
Spot discount 10-liter water 60 yuan / ton
.

As of last Friday, the copper inventory in the previous period increased by 11,272 tons compared with the previous Chow Tai Fook, and the trend of destocking was temporarily suspended; China's June manufacturing PMI in June was last month, production generally maintained expansion, industrial transformation and upgrading continued to advance
.
During the G20 summit over the weekend, the trade negotiations between China and the United States released positive information, China and the United States resumed economic and trade consultations on the basis of equality and mutual respect, the United States did not impose tariffs on the previously mentioned $350 billion of Chinese products, market risk appetite has improved, and spot copper prices are expected to rise
slightly today.

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