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Shanghai copper continues to run at a high level and maintain range-bound volatility in the short term

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Today, Shanghai copper continued to run at a high level, the main monthly 2111 contract opened at 68970 yuan / ton, the highest intraday 69700 yuan / ton, the lowest 68820 yuan / ton, settled 68170 yuan / ton, closed 68840 yuan / ton, up 670 yuan
.
The main 2110 contract of Shanghai copper traded 84488 lots throughout the day, a decrease of 14538 lots, and the position volume 119513 lots decreased by 38 lots
.

Shanghai copper

During the Asian session, the high level of London copper retreated, and the latest quotation at 15:01 Beijing time was 9314 US dollars / ton, up 8 US dollars, or 7.
5%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was 69820 yuan / ton, up 1000 yuan, premium 300-liter 360; Guangdong spot 1# copper price was 69650 yuan / ton, up 930 yuan; Yangtze River spot 1# copper 69950 yuan / ton, up 1040 yuan, premium 450-liter 470; Shanghai spot 1# copper price was 69975 yuan / ton, up 1240 yuan
.

In the spot market, the holders chased up the price and shipped, actively entered the market for procurement on the first day after the holiday, the trading activity was good, and the overall transaction was
acceptable.
Chile's copper output continued to fall month-on-month, many provinces in China still limited power and production, copper production will continue to decline, superimposed copper stocks are still at a low level, short-term copper prices range shock
.

Industry highlights, Europe's largest copper smelter Aurubis said the 2022 copper premium it offers to customers will be $123 per tonne higher than the London Metal Exchange (LME) price and much higher than the $96 per tonne premium in 2021; South Africa's largest construction metal workers' union has launched an indefinite strike demanding a pay rise, which could hamper the production of new cars and the supply
of spare parts.

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