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Shanghai copper continues to climb The overall market trading is quiet

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Today's Shanghai copper continued to climb, hitting a new high in nearly a decade, the main monthly 2106 contract opened at 69750 yuan / ton, the highest intraday 71130 yuan / ton, the lowest 69550 yuan / ton, settled 70360 yuan / ton, closed 70980 yuan / ton, up 1650 yuan
.
The trading volume of the main 2106 contract of Shanghai copper increased by 84909 lots 247686 the day, and the position increased by 11134 to 189060 lots
.

Shanghai copper

During the Asian session, London copper opened low and went high, and the latest quotation at 15:01 Beijing time was 9679.
5 US dollars / ton, up 128 US dollars, or 1.
43%, and touched a new high
since 2011.

Today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 70,000 yuan / ton, up 790 yuan, discount 100-discount 40; Guangdong spot 1# copper price was 69910 yuan / ton, up 840 yuan; Yangtze River spot 1# copper 69980 yuan / ton, up 790 yuan, discount 100-discount 80; Shanghai spot 1# copper price was reported at 69940 yuan / ton, up 830 yuan
.

In the spot market, the willingness of holders to exchange cash is strong, the downstream procurement is cautious, and the overall transaction is quiet
.
The macro atmosphere is warm overall, overseas demand is picking up, copper mine supply is tight, and the inventory in the previous period is expected to enter the destocking stage after May, supporting a sharp rise in prices
.

Copper stocks of the LME have recently fallen and have fallen for seven consecutive trading days, with a cumulative decline of 9.
46%, and copper stocks in the previous period fell slightly by 27 tons to 202437 tons last week; Green investment in electric vehicles and renewable energy will support copper demand in the long term, and spot copper prices are expected to rise
sharply.

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