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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper afternoon review on May 21

    Shanghai copper afternoon review on May 21

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    Overnight, the main 1907 contract of Shanghai copper opened at 47580 yuan / ton, after opening a low of 47550 yuan / ton, the bulls entered the market, the center of gravity rose slightly to break the daily moving average, intraday high 47740 yuan / ton, but soon the high failed to reward, copper prices quickly fell and pressured the daily average, the overall center of gravity returned to 47630 yuan / ton to do narrow range shock finishing, until the close of 47630 yuan / ton
    .
    The trading volume of the Shanghai Copper Index was 66,650 lots, and the position increased by 3,646 lots to 550,000 lots
    .

    Shanghai copper

    Spot yesterday due to the proximity of long order delivery, and the price is at a low level, the market transaction atmosphere is positive, traders are more and more strong, although there is a source of warehouse receipts into the market recently, due to the good transaction atmosphere, the premium is still expected to be strong
    .
    It is expected that today's Shanghai copper 47500-48000 yuan / ton, spot premium 30-liter 110 yuan / ton
    .

    China's copper import premium fell to $47 a tonne last week, well below the high of $120 last October and the lowest in two years; Spot TC of imported copper concentrate fell again last week, with an average price of $64.
    5/mt, indicating that copper concentrate supply remains tight; In addition, global copper inventories continue to decline, and the supply side still supports copper prices, and spot copper prices are expected to rise or fall only
    today.

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