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Today's Shanghai copper weak operation, the main month 2204 contract opened at 71090 yuan / ton, the highest intraday 71380 yuan / ton, the lowest 71010 yuan / ton, settled 71540 yuan / ton, closed 71090 yuan / ton, down 450 yuan, down 0.
63%.
The trading volume of the main 2204 contract of Shanghai copper decreased by 11,580 lots to 60,918 contracts throughout the day, and the position volume of 121223 lots increased by 16,766 lots
.
During the Asian session, the trend of London copper fluctuated, and the latest quotation at 15:01 Beijing time was 9877 US dollars / ton, up 2 US dollars, or 0.
02%.
In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 71240 yuan / ton, down 370 yuan, premium 50-liter 110; Guangdong spot 1# copper price reported 71100 yuan / ton, down 340 yuan; Yangtze River spot 1# copper 71240 yuan / ton, down 350 yuan, premium 60-liter 100; Shanghai spot 1# copper price was 71180 yuan / ton, down 345 yuan
.
The spot market continued to be weak, receiving parties were more cautious and wait-and-see, and downstream fear of heights inhibited transactions, and the overall consumption performance was light
.
Russia's recognition of Wudong's independence has sharply escalated tensions, triggering an escalation of safe-haven commodity speculation, aggravating the bearishness of the financial market, superimposed on the continuous accumulation of domestic copper inventories, and the downstream resumption of production is less than expected, and the rise in copper prices has slowed down
.
Overall, market risk aversion continues to heat up, while the slow pace of downstream resumption of work after the domestic holiday coupled with downstream replenishment demand is still not good, coupled with the sharp rise in copper prices to curb demand, inventory dematerialization will begin to slow down, there is resistance above copper prices, and copper is expected to fall
.
