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Today's Shanghai copper low volatility, the main month 2012 contract opened at 51480 yuan / ton, the highest intraday 51710 yuan / ton, the lowest 51380 yuan / ton, settlement 51480 yuan / ton, closed 51650 yuan / ton, down 280 yuan
.
The trading volume of the main 2012 contract of Shanghai copper increased by 19,372 lots 102907 the whole day, and the position decreased by 871 to 114309 lots
.
During the Asian session, London copper fluctuated upward, and the latest quotation at 15:01 Beijing time was 6805.
5 US dollars / ton, up 30.
5 US dollars, or 0.
45%.
In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 51560 yuan / ton, down 420 yuan, 100 liters of water 160; Guangdong spot 1# copper price was reported at 51410 yuan / ton, down 420 yuan; Yangtze River spot 1# copper price 51600 yuan / ton, down 420 yuan, premium 140-liter 160; Shanghai spot 1# copper price was 51540 yuan / ton, down 380 yuan
.
In the spot market, the sentiment of receiving goods has warmed up, the downstream has entered the market at low prices, the source of low-priced goods has become smooth, and the overall trading situation has improved
.
The macro atmosphere is still uncertain, imported copper continues to flow in large quantities, but it is not shown in inventory, there are still expectations for demand in the fourth quarter, and there is limited
space below copper prices.
The epidemic in Europe and the United States reached a new high, with the United States, Russia and France all setting new records in a single day, and Spain declaring a new state of
emergency.
U.
S
.
new home sales in September were 959,000 annualized versus 1,025,000 expected.
As the United States could not pass a new stimulus package, and the epidemic in Europe and the United States reached new highs, the market fell into panic, the dollar rose sharply overnight, and most non-ferrous metals weakened
.
On the supply side, copper varieties are not too elastic, and supply disruption is still continuing, and on the demand side, the impact of real estate bearish is gradually digested, and the probability of the US stimulus policy landing after the election is still large, so it is not recommended to be overly bearish copper prices at present, and it is still possible to properly bargain with bulls to wait for the boost to copper prices after the stimulus policy lands
.
