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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper continues to rise, downstream demand has not improved

    Shanghai copper continues to rise, downstream demand has not improved

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today, Shanghai copper continued to rise, refreshing the high since 2011, the main monthly 2104 contract opened at 63390 yuan / ton, the highest intraday 64470 yuan / ton, the lowest 63000 yuan / ton, settled 63560 yuan / ton, closed 64320 yuan / ton, up 1590 yuan
    .
    The trading volume of the main 2104 contract of Shanghai copper increased by 106685 lots 199534 throughout the day, and the position increased by 19979 to 147830 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated upward, and the latest quotation at 15:00 Beijing time was 8726 US dollars / ton, up 120 US dollars, or 1.
    39%.

    In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was 63370 yuan / ton, up 600 yuan, discount 10-liter 50; Guangdong spot 1# copper price was 63300 yuan / ton, up 540 yuan; Yangtze River spot 1# copper 63480 yuan / ton, up 600 yuan, premium 110-liter 130; Shanghai spot 1# copper price was 63240 yuan / ton, up 555 yuan
    .

    In the spot market, traders are mainly wait-and-see, downstream demand has not improved, and transactions are quiet
    .
    Inventories on major global exchanges are generally low, expectations of improved demand remain unchanged, Goldman Sachs warned that there will be shortages in the copper market, and copper prices remain supported
    .

    On the macro front, global central banks are likely to continue to maintain their current ultra-loose monetary and fiscal policies, and the US dollar is expected to remain weak
    .
    Fundamentally, the CSPT team finalized the copper concentrate processing fee floor price for the first quarter of 2021 at US$53/mt and US$5.
    3/lb.
    Decreased by $5 and 0.
    5 cents from the fourth quarter of 2020, indicating that the market is still pessimistic about the future supply of copper concentrate, and on the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand.

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