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November 1 Shanghai copper afternoon review

 Last Update: 2022-12-17
 Source: Internet
 Author: User

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Overnight, the Shanghai copper 1912 contract gap opened low at 47130 yuan / ton, and the center of gravity gradually shifted down after the opening, and the copper price lost the 47000 mark position, and after testing down 46780 yuan / ton, it remained volatile
near this position.
Finally, Shanghai copper closed at 46840 yuan / ton, down 1.
04%.

Shanghai copper

Copper prices fell sharply last night, mainly due to a series of poor performance of the US economic data released yesterday, and the closure of an oil pipeline to the refinery in the United States, which made US oil record a negative line for the fourth consecutive day, and copper prices were dragged down; In addition, under the weak economic data between China and the United States, the market risk aversion rebounded, and the gold price returned to above $1510 yesterday, which also had a strong pressure on
copper prices.

In terms of spot, due to the recent market circulation of more supplies, the willingness of holders to sell goods has also increased recently, but the sentiment of taking goods downstream at the end of the month has converged, and the overall trading has reached a stalemate
.
It is expected that today's Shanghai copper 46600-47000 yuan / ton, spot discount 10-liter 20 yuan / ton
.

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