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Today's Shanghai copper high volatility, the main month 2010 contract opened at 51890 yuan / ton, the highest intraday 52530 yuan / ton, the lowest 51700 yuan / ton, settlement 52070 yuan / ton, close 52120 yuan / ton, up 500 yuan
.
The trading volume of the main 2010 contract of Shanghai copper decreased by 7136 lots 134813 lots, and the position increased by 896 to 110284 lots
.
During the Asian session, London copper fluctuated at a high level, and the latest quotation at 15:01 Beijing time was 6457 US dollars / ton, up 39 US dollars, or 0.
58%.
In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 52460 yuan / ton, up 910 yuan, 110-170 liters; Guangdong spot 1# copper price was 52330 yuan / ton, up 910 yuan; Yangtze River spot 1# copper price 52530 yuan / ton, up 910 yuan, premium 170-liter 190; Shanghai spot 1# copper price was 52280 yuan / ton, up 730 yuan
.
In the spot market, traders are mainly wait-and-see, downstream consumption has not improved for the time being, and transactions have reached a stalemate
.
The market is still low when the peak season will start, peak season consumption has not been falsified, global explicit inventories are generally at a low level, and short-term copper prices remain volatile
.
At the macro level, the increase in the scale of social financing in August was 3.
58 trillion yuan, 1.
39 trillion yuan
more than the same period last year.
August social finance data was seasonal, but still significantly exceeded previous market expectations
.
In terms of supply, Peruvian copper mine production has basically returned to normal, but the epidemic situation in South America is still worsening, and the supply of copper concentrate is still subject to certain restrictions
.
In addition, the supply of copper scrap is relatively tight and the price is firm
.
On the demand side, China imported 4.
27 million tons of copper and copper products from January to August, an increase of 1.
2 million tons over the same period last year, and the apparent demand was strong
.
Although the characteristics of the domestic peak season are still not obvious, the overseas economy has gradually recovered, continuing to drive copper consumption, and London copper stocks have fallen to a low level below 80,000 tons
.
On the whole, copper prices are expected to fluctuate upwards against the backdrop of low inventories and gradual recovery of demand
.
