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Macro sentiment is warm overall, and Shanghai copper bottoms out

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

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Today's Shanghai copper bottomed out, the main month 2101 contract opened at 57160 yuan / ton, the highest intraday 57470 yuan / ton, the lowest 56790 yuan / ton, settled 57130 yuan / ton, closed 57450 yuan / ton, up 350 yuan
.
The trading volume of the main 2101 contract of Shanghai copper decreased by 4529 lots throughout the day 122092, and the position decreased by 5716 to 108389 lots
.

Shanghai copper

During the Asian session, London copper fluctuated upward, and the latest quotation at 15:00 Beijing time was 7736 US dollars / ton, up 42 US dollars, or 0.
55%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 56990 yuan / ton, down 250 yuan, premium 80-140; Guangdong spot 1# copper price was reported at 56980 yuan / ton, down 280 yuan; Yangtze River spot 1# copper price 57070 yuan / ton, down 260 yuan, premium 170-liter 190; Shanghai spot 1# copper price was 57010 yuan / ton, down 260 yuan
.

In the spot market, holders ship a small amount of goods for cash, and the downstream continues to just need to purchase, waiting and
seeing.
Accumulation risks put pressure, but macro sentiment is generally warm, grid investment is expected to accelerate at the end of the year, and copper prices are supported
.

Chile's Centinela copper mine in Antofagasta has reached a pay agreement with one union, and negotiations with another union are still ongoing
.
Copper mine production is likely to improve in 2021, and the recovery of profits is conducive to the resumption of production of previously suspended copper mine projects
.
Recently, affected by the weather, many domestic copper processing plants have reduced production, and smelters have high production schedules at the end of the year, and spot copper prices are expected to fall
.

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