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May 28 copper market noon review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Copper market summary: the rise in international oil prices boosted copper prices, Shanghai copper opened high overnight, China's April copper mine imports fell significantly month-on-month, Peru production cuts and other upstream disturbances intensified to provide support, it is expected that copper will continue to rise
slightly today.

Copper City

Today's Shanghai electrolytic copper spot contract reported flat water ~ liter 50 yuan / ton, flat water copper trading price 47190 yuan / ton ~ 47240 yuan / ton, premium copper trading price 47220 yuan / ton ~ 47270 yuan / ton
.
The US dollar high fell, London copper opened today to rush up to 6,000 US dollars / ton mark after going low, Shanghai copper prices along the 47200 yuan / ton line sorting
.
The market has basically shifted to the next month's invoice quotation, spot premium continues yesterday's quotation, holders quote flat water ~ premium 50 yuan / ton, the overall performance of the market is weak, traders on the low-price flat water copper source is still interested, flat water copper rose to 10 ~ 20 yuan / ton; Good copper supply is abundant, lack of favor, the quotation is lower to 30 yuan / ton, downstream to maintain rigid demand, wet copper supply is tight, quotation to discount 70 ~ discount 40 yuan / ton
.

Recently, the price difference between flat water copper and good copper has narrowed significantly, only in the range of 20~30 yuan / ton, which makes market trading more difficult
.
Today's overall market transaction is general, the futures price rebound is blocked, spot has not shown existing confidence for the time being, trade and downstream are cautious, short-term still show a wait-and-see attitude, spot premium continues to stalemate pattern
.

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