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Lack of new news in the market Shanghai copper trend is weak

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Today's Shanghai copper trend is weak, the main month 2102 contract opened at 58180 yuan / ton, the highest intraday 58340 yuan / ton, the lowest 57630 yuan / ton, settled 57970 yuan / ton, closed 57750 yuan / ton, down 580 yuan
.
The trading volume of the main 2102 contract of Shanghai copper increased by 13025 lots 136664 the whole day, and the position decreased by 7961 to 105758 lots
.

Shanghai copper

During the Asian session, London copper fluctuated downward, and the latest quotation at 15:00 Beijing time was 7779 US dollars / ton, down 40 US dollars, or 0.
51%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was 57950 yuan / ton, down 150 yuan, discount 20-liter 40; Guangdong spot 1# copper price was reported at 57900 yuan / ton, down 240 yuan; Yangtze River spot 1# copper price 58010 yuan / ton, down 180 yuan, premium 60-liter 80; Shanghai spot 1# copper price was 57910 yuan / ton, down 180 yuan
.

In the spot market, activity is reduced, shipment and delivery willingness is low, and the overall trading atmosphere is weak
.
China's manufacturing industry has maintained a steady recovery, production and demand have continued to improve, although the overseas epidemic is still a concern, but vaccines and stimulus measures are helping the economic recovery, copper prices may recover after the holiday
.

In terms of news, after the implementation of the recycled copper standard, the import of scrap copper has increased, which has eased the shortage of raw materials to a certain extent, and the overall supply situation will improve next year; Pre-holiday downstream procurement cautious trading weakened, the current fundamental support is insufficient, the market lacks new news, spot copper prices are expected to fall
slightly today.

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