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Today, Shanghai copper continued to rise, the main month 2101 contract opened at 58040 yuan / ton, the highest intraday 58660 yuan / ton, the lowest 57770 yuan / ton, settled 58250 yuan / ton, closed 58560 yuan / ton, up 380 yuan
.
The trading volume of the main 2101 contract of Shanghai copper was 84668 lots, a decrease of 27200 lots, and the position increased by 1312 to 117317 lots
.
The London Metal Exchange (LME) is closed today for the Christmas holidays
.
In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 58330 yuan / ton, up 190 yuan, premium 40-100; Guangdong spot 1# copper price was 58370 yuan / ton, up 360 yuan; Yangtze River spot 1# copper price 58370 yuan / ton, up 180 yuan, premium 100-liter 120; Shanghai spot 1# copper price was 58240 yuan / ton, up 100 yuan
.
In the spot market, the activity of traders has weakened, downstream consumption is light, and the transaction performance is average
.
Copper concentrate processing and refining fees were lowered, Peru's large copper mines encountered force majeure, and the epidemic panic eased, supporting the recovery of copper prices
.
On the news front, JPMorgan Chase is bearish on the base metals market trend in 2021, saying that the tightening credit conditions in China, a major consumer of metals, will weaken the outlook
for industrial metals.
According to the news, China's copper smelters agreed to cut copper concentrate processing and refining fees by 8.
6% in the first quarter of next year, and the annual contract benchmark price has fallen for six consecutive years, as the supply at the mine end is tight, while China's smelting capacity is still expanding, and spot copper prices are expected to rise or fall little
.
