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Today's Shanghai copper high fell, the main month 2205 contract opened at 72800 yuan / ton, the highest intraday 73780 yuan / ton, the lowest 72630 yuan / ton, settled 72790 yuan / ton, closed 72880 yuan / ton, up 90 yuan, or 0.
12%.
The trading volume of the main 2205 contract of Shanghai copper increased by 27921 lots to 83482 lots throughout the day, and the position volume of 136789 increased by 37507 lots
.
During the Asian session, London copper fluctuated lower, and the latest quotation at 15:01 Beijing time was 10210 US dollars / ton, down 96 US dollars, or 0.
93%.
Today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 73540 yuan / ton, up 260 yuan, premium 320-liter 380; Guangdong spot 1# copper price was reported at 73320 yuan / ton, up 360 yuan; Yangtze River spot 1# copper 73660 yuan / ton, up 350 yuan, premium 450-liter 490; Shanghai spot 1# copper price was 73495 yuan / ton, up 195 yuan
.
In the spot market, holders continue to hold prices, downstream fear of high sentiment, buying interest is weak, and the actual transaction is more general
.
The recent domestic epidemic continues to disrupt supply, aggravating tight supply, superimposed on domestic copper inventories exceeding expectations to destock, boosting copper prices once higher, but the intraday market continues to turn sad, and affected by the sharp decline of surrounding varieties, Shanghai copper growth is limited, short-term copper prices are strong operation has not changed
.
In terms of stocks, LME copper stocks showed signs of stabilizing and rising, adding another 1,900 tonnes on Friday to nearly 80,000 tonnes
.
However, copper stocks in the previous period fell sharply, falling by more than 30,000 tons by Friday, and the stock level was less than 130,000 tons
.
Southern Copper said on Saturday it was close to reaching an agreement with some communities to lift the protests that led to the suspension of operations at its Cuajone copper mine and is currently awaiting approval by local community
councils.
The global strike affected the supply of copper mines, coupled with China's introduction of active policies to boost the economy, short-term market sentiment is still optimistic, coupled with the gradual recovery of downstream consumption, domestic copper inventories exceeded expectations to destock, which produced significant support for copper prices, and copper may rise
.
