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Shanghai copper fluctuated at a low level and the decline widened at the end of the day

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Today's Shanghai copper low volatility, the end of the decline has expanded, the main month 2104 contract opened at 67630 yuan / ton, the highest intraday 67630 yuan / ton, the lowest 66430 yuan / ton, settlement 67100 yuan / ton, close 66460 yuan / ton, down 1320 yuan
.
The trading volume of the main 2104 contract of Shanghai copper decreased by 27140 lots throughout the day, and the trading volume of 168654 29602 contracts decreased by 29602 to 115913 lots
.

Shanghai copper

During the Asian session, London copper was weak and volatile, and the latest quotation at 15:00 Beijing time was 9029 US dollars / ton, down 89 US dollars, or 0.
98%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was 67080 yuan / ton, down 680 yuan, discount 40-liter 20; Guangdong spot 1# copper price reported 67020 yuan / ton, down 770 yuan; Yangtze River spot 1# copper 67130 yuan / ton, down 720 yuan, premium 10-liter 30; Shanghai spot 1# copper price was 66990 yuan / ton, down 835 yuan
.

In the spot market, the wait-and-see mood is strong, consumption is still weak, and trading has stalemated
.
Delivery pressure is still large, consumption is still in the process of recovery, consumption is expected to strengthen seasonally in March, the current macro atmosphere disturbs the market, copper prices fluctuate
at a high level.

In terms of news, copper concentrate supply is gradually returning to normal, Chile's major miners in January production increase or decrease is not appropriate, ports have returned to normal, Peru's state of emergency has been lifted
.
Due to high prices, short-term downstream consumption has been suppressed, inventories in the previous period continue to accumulate, there is still greater pressure to destock, and spot copper prices are expected to fall
.

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