 Home > Chemicals Industry > New Chemical Materials > March 8 Shanghai copper afternoon review

March 8 Shanghai copper afternoon review

 Last Update: 2022-12-15
 Source: Internet
 Author: User

Tags

copper sulfate fertilizer

copper island

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

Overnight, the main 1905 contract of Shanghai copper opened at 49220 yuan / ton, after the opening of the shock higher, short-term test 49300 yuan / ton, and then due to the short position increase, copper price center of gravity quickly fell back to 49120 yuan / ton around the shock consolidation, during the low 49020 yuan / ton, the initial copper price many times upward to test the daily average, but failed to climb smoothly, the end of the session volatility is weak, closing at 49160 yuan / ton
.

Shanghai copper

The spot market, due to the widening of the market spread today, will continue to stimulate the selling sentiment of holders, but due to the low market recognition of the current absolute price, it is difficult to see enthusiasm for downstream buying
.
It is expected that today's Shanghai copper 49000-49500 yuan / ton, spot discount 140-discount 10 yuan / ton
.

Copper stocks in LME-registered warehouses rose to 120075 tonnes on Thursday, after 116872 tonnes on Wednesday at their lowest level since 2008, or a sign that the LME supply crunch may be easing; Support for metal prices from China's stimulus is also waning, with Capital Economics analyst Ross Stracan saying the stimulus announced this week "will not change the rules of the game" or stop slowing
growth.
Most base metal prices fell, and spot copper prices are expected to continue to fall
today.

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

Related Products

9,10-Diphenylanthrac

CAS No.: 1499-10-1

$1-1.2/MT FOB

High Quality Polar Solvent 99.99% Ethylene carbonate/Ethylencarbonat/ EC CAS 96-49-1

CAS No.: 96-49-1

Pharmacy Grade

$1-1.2/MT FOB

High quality Fluorescent Brightener CBS-X 98% TOP1 supplier in China

CAS No.: 27344-41-8

Industrial Grade

$3/KG EXW

Hot Tags

united states jobs(223)

jobs united states(236)

1 year treasury(277)

1 year subscription(296)

single use technology(195)

announcements today(81)

ups united states(221)

united states logo(227)

80 20 company(94)

healthy food name(42)

Hot Articles

The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.