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    Home > Chemicals Industry > New Chemical Materials > June 17 Shanghai copper afternoon review

    June 17 Shanghai copper afternoon review

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    On Friday evening, the main 1908 contract of Shanghai copper opened at 46310 yuan / ton, affected by the external market at the beginning of the session, quickly tested the low of 46090 yuan / ton, the center of gravity rebounded after the short-term bottoming, but the performance was hindered at 46260 yuan / ton, after the high temperature consolidation, the bears took advantage of the high level to enter the market, the price again fell to around 46140 yuan / ton, closing at 46110 yuan / ton, down 0.
    5%
    overnight.

    Shanghai copper

    Spot is facing contract delivery today, market quotations will move closer to the delivery level, and the current Contango structure of front-month contracts has a narrowing trend, which will provide guidance for
    quotations.
    It is expected that today's Shanghai copper 46000-46500 yuan / ton, spot premium 20-100 yuan / ton
    .

    According to data from the National Bureau of Statistics, China's industrial added value above designated size in May fell to 5% year-on-year, far lower than market expectations, a new low since February 2002, and the growth rate of fixed asset investment from January to May was not as expected, although it was related to the high base of the same period last year, but also reflected that industrial production is still weakening, consumption performance is relatively weak, and spot copper prices are expected to fall
    today.

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