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Today's Shanghai copper rushed higher after the retreat, the main month 2104 contract opened at 66920 yuan / ton, the highest intraday 68230 yuan / ton, the lowest 66860 yuan / ton, settled 67510 yuan / ton, closed 67520 yuan / ton, up 460 yuan
.
The trading volume of the main 2104 contract of Shanghai copper increased by 13843 lots throughout the day 204178 lots, and the position increased by 9541 to 157495 lots
.
During the Asian session, London copper rushed back down, and the latest quotation at 15:00 Beijing time was 9106 US dollars / ton, down 26.
5 US dollars, or 0.
29%.
In terms of the market, today's domestic spot copper prices rose sharply, 1# copper price was 67720 yuan / ton, up 1270 yuan, premium 70-liter 130; Guangdong spot 1# copper price was reported at 67740 yuan / ton, up 1240 yuan; Yangtze River spot 1# copper 67890 yuan / ton, up 1270 yuan, discount 10-liter water 10; Shanghai spot 1# copper price was 67710 yuan / ton, up 1050 yuan
.
In the spot market, downstream on-demand procurement, low-price sources remain smooth, and the overall transaction is average
.
Inventories are rising but growing at a slower pace, Chinese economic data is optimistic, commodities trader Trafigura sees a severe supply shortage among colleagues, and Chile's national copper company Codelco expects copper demand to strengthen
in the coming years.
In terms of news, the previous copper inventory continued to increase by 8769 tons to 171794 tons last week, and the cumulative rate slowed down, reaching 158.
08%
in the past six weeks.
Chile's national copper company Codelco expects copper demand to continue to rise over the next three to four years, with copper prices likely to remain above
$3 a pound.
Short-term mine supply is still tight, copper concentrate import processing fees are still declining, and spot copper prices are expected to rise
.
