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Shanghai copper afternoon review on December 9

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

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The overnight Shanghai copper 2001 contract closed at 47,940 yuan / ton, up 1.
40%, with a volume of 77,000 lots and a position increase of 7,452 lots to 196,000 lots
.
On Friday, the position of Shanghai copper 2002 contracts increased by 25,000 lots to 190,000 lots, paying attention to the monthly exchange of
the main contract.

Shanghai copper

From a fundamental point of view, as of last Friday, the inventory continued to fall to 112,700 tons, the domestic explicit inventory was at a low level in nearly four years, and the downstream consumption performance of copper at the end of the year was also better than expected, which supported the copper price below
.
However, the macro side is still affected by the uncertainty of the trade situation, including the dispute between European countries and the United States over digital taxes, which will limit the rise in copper prices to some extent
.
At present, Shanghai copper has been on the upper track of Bollinger, facing a strong pressure level of 48,000 above, and it is expected that copper prices will face a correction
in the short term.

In terms of spot, from the situation of Friday's trading, traders have actively shipped, because they are about to enter the delivery period, the plate structure is only about 70 yuan / ton of Contango, the premium is rapidly lowered to seek transactions, and it is expected that today's quotation will continue to move closer to the lower delivery level
.
It is expected that today's Shanghai copper will be 47,600-48,000 yuan tons, and the premium will be 100-130 yuan / ton
.

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