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Shanghai copper continues to rise and the market supply and demand sides are deadlocked

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

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Today's Shanghai copper continued to rise, the end of the rise narrowed, the main month 2104 contract opened at 66750 yuan / ton, the highest intraday 68790 yuan / ton, the lowest 66420 yuan / ton, settled 67550 yuan / ton, closed 67950 yuan / ton, up 1870 yuan
.
The trading volume of the main 2104 contract of Shanghai copper increased by 170905 lots 467269 lots throughout the day, and the position increased by 2195 to 153964 lots
.

Shanghai copper

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:00 Beijing time was 9205 US dollars / ton, up 91.
5 US dollars, or 1.
00%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was 67410 yuan / ton, up 270 yuan, discount 70-discount 10; Guangdong spot 1# copper price was 67320 yuan / ton, up 260 yuan; Yangtze River spot 1# copper 67490 yuan / ton, up 250 yuan, premium 20-liter 40; Shanghai spot 1# copper price was 67600 yuan / ton, up 520 yuan
.

In the spot market, traders are cautious and wait-and-see, downstream fear of heights intensifies, and supply and demand sides are deadlocked
.
The agency expects tight supply in the next few years, clean energy development will drive demand growth, and the US stimulus policy will make progress, supporting copper prices to continue to rise
.

The new energy industry is developing rapidly, the United States plans to launch a $2 trillion "climate and infrastructure plan" focusing on new energy, green transportation and other aspects, the global promotion of clean, green energy, copper and other non-ferrous metals constitute a good consumption, demand growth in the next few years may exceed supply growth, Goldman Sachs said that this year the market is facing the largest deficit in 10 years, spot copper prices are expected to rise
today.

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