echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper fluctuated at a high level, and the overall trading performance of the market was lackluster

    Shanghai copper fluctuated at a high level, and the overall trading performance of the market was lackluster

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper high volatility, the main month 2205 contract opened at 74910 yuan / ton, the highest intraday 75500 yuan / ton, the lowest 74800 yuan / ton, settlement 74930 yuan / ton, closed 75040 yuan / ton, up 110 yuan, or 0.
    15%.

    The trading volume of the main 2205 contract of Shanghai copper increased by 10905 lots to 63367 lots throughout the day, and the position volume of 149391 lots decreased by 7329 lots
    .

    Shanghai copper

    During the Asian session, London copper ran high, and the latest quotation at 15:01 Beijing time was 10469 US dollars / ton, up 137 US dollars, or 1.
    33%.

    In terms of the market, today's domestic spot copper prices are mixed, Yangtze River spot 1# copper 75770 yuan / ton, up 180 yuan, premium 530-570; Yangtze River nonferrous metal mesh 1# copper price reported 75700 yuan / ton, up 110 yuan, premium 450-liter 510; Guangdong spot 1# copper price was reported at 75660 yuan / ton, up 480 yuan; Shanghai spot 1# copper price was 75560 yuan / ton, down 20 yuan
    .

    In the spot market, holders actively adjusted prices and shipments for cash, and receivers were cautious and wait-and-see, just needed to purchase at a low price, and the overall trading performance was weak
    .
    Crude oil prices continued to rise, disruption to overseas copper mines, and continued to strengthen
    on the back of strong domestic infrastructure investment and industrial production data.

    Industry information, Barrick Gold said copper production in the first quarter was down 19.
    8% from the previous quarter because of lower production at the Lumwana mine; Chilean copper production in January 2022 was 425,700 tons, down 7.
    5% year-on-year and the lowest level in 11 years; Chilean copper production fell further to 399,817 tonnes in February, down 7%
    y-o-y.
    Chilean copper production in 2021 has decreased by 1.
    9% year-on-year; Raúl Smith, president of the Peruvian Chamber of Mining (SNMPE), Jacob said Monday that the Las Bambas copper mine, owned by Minmetals Resources (MMG), had suspended operations after residents of nearby communities invaded the mine to stage protests
    .

    Today's Shanghai copper opened high, the latest opening price of the Shanghai copper 2205 contract was 75040 yuan / ton, up 110 yuan
    .
    Overseas supply continues to be tight, Chilean copper production continues to decline, Peruvian copper mines continue to be disrupted, domestic infrastructure investment performance is eye-catching, 11.
    8% year-on-year growth, the third consecutive month of upward, and industrial production data increased 5% year-on-year to support copper prices, copper may rise
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.