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Shanghai copper continues to be strong, and the downstream fear of heights is strong

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Today's Shanghai copper continued to be strong, the main month 2009 contract opened at 51400 yuan / ton, the highest intraday 52520 yuan / ton, the lowest 51250 yuan / ton, settled 51940 yuan / ton, closed 52150 yuan / ton, up 1120 yuan
.

Shanghai copper

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:01 Beijing time was 6633 US dollars / ton, up 34 US dollars, or 0.
52%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 52310 yuan / ton, up 1190 yuan, 60-120 liters; Guangdong spot 1# copper price was 52260 yuan / ton, up 1150 yuan; Yangtze River spot 1# copper price 52370 yuan / ton, up 1180 yuan, premium 140-liter 160; Shanghai spot 1# copper price was 52285 yuan / ton, up 1150 yuan
.

In the spot market, the holders are willing to sell, the middlemen just need to buy, the downstream fear of heights and wait-and-see sentiment is strong, and the transaction is general
.
China's July refined copper production fell 5.
3% month-on-month, Rio Tinto cut its full-year production target, overseas inventories continued to fall, and copper prices were supported
at the bottom.

Global copper smelting activity slipped in July, falling to its lowest level in more than two years, with weakness appearing to be partly due to increased smelter maintenance; LME copper stocks fell to a 13-year low on Tuesday as spot copper prices rose
today as inventories continued to flow out.

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