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Shanghai copper afternoon review on October 25

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

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Overnight, the Shanghai copper 1912 contract opened at a high of 47480 yuan / ton, and after the opening, the copper price rose to 47570 yuan / ton in a short line, and then the copper price entered a downward range, and the low level fell to 47260 yuan / ton
.
Subsequently, the center of gravity of copper prices remained at 47320 yuan / ton, maintaining volatility
.
At the end of the session, copper prices rose slightly, and finally Shanghai copper closed at 47370 yuan / ton, up 0.
02%.

Shanghai copper

In terms of spot, due to the continued high copper prices, coupled with the recent weakening of demand for long orders and tax stamps, it is expected that the overall demand will be lighter today, and holders are forced to adjust prices and shipments under inventory pressure, and spot quotations are expected to show a discount today
.
It is expected that today's Shanghai copper 47100-47500 yuan / ton, spot discount 10-liter 30 yuan / ton
.

The unrest in Chile has largely left copper mine production unaffected, but port facilities, public transportation and supply chain issues remain and continue to impact operations
.
At present, domestic demand has not picked up significantly, and the decline in copper and copper mine imports in September reflects weaker demand to some extent, but the month-on-month increase in copper operating rate indicates that there is a marginal improvement in downstream consumption, and the blockage of copper output will also support copper prices, and spot copper prices are expected to rise or fall little
today.

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