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Today's Shanghai copper low volatility, the main month 2108 contract opened at 69300 yuan / ton, the highest intraday 69480 yuan / ton, the lowest 68620 yuan / ton, settlement 69210 yuan / ton, closed 68740 yuan / ton, down 470 yuan
.
The trading volume of the main 2108 contract of Shanghai copper decreased by 7120 lots to 90167 lots throughout the day, and the position volume 103887 decreased by 5097 lots
.
During the Asian session, London copper opened low and went low, and the latest quotation at 15:01 Beijing time was 9369 US dollars / ton, down 78 US dollars, or 0.
83%.
In terms of the market, today's domestic spot copper prices fell, 1# copper price was 69290 yuan / ton, down 420 yuan, premium 470-premium 490; Guangdong spot 1# copper price reported 68910 yuan / ton, down 490 yuan; Yangtze River spot 1# copper 69290 yuan / ton, down 420 yuan, premium 470-liter 490; Shanghai spot 1# copper price was 69220 yuan / ton, down 475 yuan
.
In the spot market, the sentiment of holders is unabated, downstream consumption maintains just need to purchase, the overall trading is general, and the transaction is light
.
Copper concentrate processing fees have continued to rise, reaching the level of US$50.
82/ton, and refinery profits are high, coupled with weak demand in the off-season of downstream consumption
.
Industry news, the first batch of national reserves of copper, aluminum and zinc has initially reached the expected target
.
The market generally believes that the release of reserves has released the positive policy signal of the state to carry out the supply and price stability of bulk commodities, and stabilized market price expectations; Targeted delivery provides an opportunity window for midstream and downstream processing and manufacturing enterprises to replenish inventory, and reduces the cost of
raw materials for some enterprises.
In terms of news, domestic copper concentrate processing continued to rebound in the short term, coupled with the tight supply of copper concentrate has eased, and the imported copper concentrate index (weekly) rose for the 14th consecutive week, as of last Friday (July 16), SMM imported copper concentrate index continued to rise by $3.
74, coupled with weak downstream demand, copper prices fell
slightly.
