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June 18 Shanghai copper afternoon review

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

Tags

short term energy

spot metal prices

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Overnight Shanghai copper main 1908 contract opened low at 46050 yuan / ton, after the opening of the short-term fell below the integer mark to 45990 yuan / ton, as the bulls took the opportunity to enter the market, copper prices rose sharply, intraday short-term high 46440 yuan / ton, the high failed to stabilize, closed at 46300 yuan / ton, up 0.
33%
overnight.

Shanghai copper

In terms of spot, after yesterday's delivery, the willingness of market holders to hold prices has increased, and it is expected to continue today, with high prices inhibiting market transactions, and the overall trading is difficult to have a lively market
.
It is expected that today's Shanghai copper will be 46100-46600 yuan / ton, and the spot premium will be 20-80 yuan / ton
.

ANZ reported that despite the gloomy economic backdrop, signs of renewed strikes will support copper prices, with China's production decline exacerbating supply shortages
.

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