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Today's Shanghai copper high open volatility decline, the main month 2206 contract opened at 72060 yuan / ton, the highest intraday 72120 yuan / ton, the lowest 71310 yuan / ton, settlement 71640 yuan / ton, closed 71340 yuan / ton, down 300 yuan, down 0.
42%.
During the Asian session, London copper fluctuated downward, and the latest quotation at 15:01 Beijing time was 9276 US dollars / ton, down 60 US dollars, or 0.
64%.
Today's domestic spot copper prices are mixed, Yangtze River spot 1# copper 72130 yuan / ton, down 100 yuan, premium 460-liter 500; The Yangtze River Comprehensive 1# copper price was reported at 72200 yuan / ton, down 20 yuan, and the premium was 520-580; Guangdong spot 1# copper price reported 71970 yuan / ton, up 30 yuan, premium 220-420; Shanghai spot 1# copper price was 72095 yuan / ton, down 120 yuan
.
In the spot market, spot premiums remained high, holders had no willingness to hold prices, downstream enthusiasm for receiving goods weakened, cautious wait-and-see sentiment was strong, and the overall trading atmosphere was weak
.
The hawkish reappearance of the Fed's hawkishness, continuing to support interest rate hikes, the sharp decline in market sentiment, coupled with the continuous recovery of internal and external inventories, weakened the support of copper prices, and the road to copper price rebound stopped here
.
On the macro front, the April economic data released this week fell sharply, and the epidemic dragged down the domestic economy more than expected; However, on the 15th, the central bank lowered the LPR increase point of the mortgage interest rate, and in the context of greater downward pressure on the domestic economy, more stimulus policies may be introduced in the follow-up to support the economy
.
At present, the epidemic situation in Shanghai has improved, and Shanghai has given a clear signal to unblock, the market sentiment has improved significantly, this week copper spot market trading is active, Jiangsu and Zhejiang region overall buying and replenishment demand is relatively strong, copper spot premium climbing, subsequent copper consumption or will accelerate recovery
.
Copper prices are expected to rebound
at the bottom in the short term, supported by the improvement of the epidemic, the recovery of copper demand and the improvement of market sentiment.
