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Shanghai copper continues to explore short-term supply and demand divergence

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

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Today's Shanghai copper continued to fall, the main monthly 2105 contract opened at 66690 yuan / ton, the highest intraday 66980 yuan / ton, the lowest 65480 yuan / ton, the settlement 66170 yuan / ton, the close 65560 yuan / ton, down 920 yuan
.
The trading volume of the main 2105 contract of Shanghai copper increased by 37662 lots to 191090 contracts throughout the day, and the position increased by 3491 to 154325 lots
.

Shanghai copper

During the Asian session, London copper opened high and low, and the latest quotation at 15:00 Beijing time was 8810 US dollars / ton, down 79 US dollars, or 0.
89%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 65850 yuan / ton, down 210 yuan, discount 120-discount 60; Guangdong spot 1# copper price was 65830 yuan / ton, down 170 yuan; Yangtze River spot 1# copper 65930 yuan / ton, down 230 yuan, discount 40-discount 20; Shanghai spot 1# copper price was 65900 yuan / ton, down 190 yuan
.

In the spot market, the willingness to adjust prices is not high, the downstream just needs to be purchased, and the circulation of middlemen is the mainstay
.
Europe is facing the dilemma of extended lockdowns and delayed vaccinations, and domestic peak season demand has not yet appeared, but the mine end is still tight, and copper prices remain volatile
in the short term.

In terms of news, the supply interference of copper mines in South America has eased, there are differences between short-term supply and demand, the cost pressure of copper companies is still large, the start of copper rod processing enterprises is weak, downstream demand has not yet shown obvious signs of improvement, and spot copper prices are expected to fall
.

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