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Shanghai copper fluctuated upward during the day, and there was a rush back down at the end of the day

 Last Update: 2022-12-02
 Source: Internet
 Author: User

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1.
Summary of copper prices in major domestic cities

market	name of article	Material	Price range		Change	remark
Guangdong spot	1# Copper	1 #	35810-36010	Yuan/ton	120	Tax included
Shanghai spot	1# Copper	1 #	35780-36160	Yuan/ton	170	Tax included
Shanghai spot	Flat water copper		35780-36120	Yuan/ton	160	Tax included
Shanghai spot	Liters of copper		35800-36160	Yuan/ton	170	Tax included
Shanghai	1# Copper	1 #	35850-35950	Yuan/ton	150	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	33200-33400	Yuan/ton	100	Tax not included
Jinan spot	1# Copper	1 #	35950-35950	Yuan/ton	100	Tax included
Shenyang spot	1# Copper	1 #	36050-36050	Yuan/ton	100	Tax included
Beijing spot	1# Copper	1 #	36000-36000	Yuan/ton	100	Tax included
Tianjin spot	1# Copper	1 #	36000-36000	Yuan/ton	100	Tax included
Wuxi spot	1# Copper	1 #	36000-36000	Yuan/ton	100	Tax included
Xi'an spot	1# Copper	1 #	36050-36050	Yuan/ton	100	Tax included
Chongqing spot	1# Copper	1 #	36050-36050	Yuan/ton	100	Tax included
Guangzhou spot	1# Copper	1 #	36100-36100	Yuan/ton	100	Tax included
Wuhan spot	1# Copper	1 #	36000-36000	Yuan/ton	100	Tax included
Kunming spot	1# Copper	1 #	36100-36100	Yuan/ton	100	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 35810-36010 Yuan/ton 120 Tax included Shanghai spot 1# Copper 1# 35780-36160 Yuan/ton 170 Tax included Shanghai spot Flat water copper 35780-36120 Yuan/ton 160 Tax included Shanghai spot Liters of copper 35800-36160 Yuan/ton 170 Tax included Shanghai 1# Copper 1# 35850-35950 Yuan/ton 150 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 100 Tax not included Jinan spot 1# Copper 1# 35950-35950 Yuan/ton 100 Tax included Shenyang spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Beijing spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Tianjin spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Wuxi spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Xi'an spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Chongqing spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Guangzhou spot 1# Copper 1# 36100-36100 Yuan/ton 100 Tax included Wuhan spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Kunming spot 1# Copper 1# 36100-36100 Yuan/ton 100 Tax included market name of article Material Price range Change remark Market market Product name, product name Material material Price RangePrice Range Ups and downs Remarks Note: Remarks Guangdong spot 1# Copper 1# 35810-36010 Yuan/ton 120 Tax included Guangdong spot 1# Copper 1# 35810-36010 Yuan/ton 120 Tax included Shanghai spot 1# Copper 1# 35780-36160 Yuan/ton 170 Tax included Shanghai spot 1# Copper 1# 35780-36160 Yuan/ton 170 Tax included Shanghai spot Flat water copper 35780-36120 Yuan/ton 160 Tax included Shanghai spot Flat water copper 35780-36120 Yuan/ton 160 Tax included Shanghai spot Liters of copper 35800-36160 Yuan/ton 170 Tax included Shanghai spot Liters of copper 35800-36160 Yuan/ton 170 Tax included Shanghai 1# Copper 1# 35850-35950 Yuan/ton 150 Tax included Shanghai 1# Copper 1# 35850-35950 Yuan/ton 150 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 100 Tax not included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 100 Tax not included Jinan spot 1# Copper 1# 35950-35950 Yuan/ton 100 Tax included Jinan spot 1# Copper 1# 35950-35950 Yuan/ton 100 Tax included Shenyang spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Shenyang spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Beijing spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Beijing spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Tianjin spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Tianjin spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Wuxi spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Wuxi spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Xi'an spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Xi'an spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Chongqing spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Chongqing spot 1# Copper 1# 36050-36050 Yuan/ton 100 Tax included Guangzhou spot 1# Copper 1# 36100-36100 Yuan/ton 100 Tax included Guangzhou spot 1# Copper 1# 36100-36100 Yuan/ton 100 Tax included Wuhan spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Wuhan spot 1# Copper 1# 36000-36000 Yuan/ton 100 Tax included Kunming spot 1# Copper 1# 36100-36100 Yuan/ton 100 Tax included Kunming spot 1# Copper 1# 36100-36100 Yuan/ton 100 Tax included

2.
Market review

Yesterday, the trend of Shanghai copper first fell and then rose, and finally the Shanghai copper 1607 contract closed at 35910 yuan / ton, down 10 yuan / ton
.
Today, Shanghai copper continued its upward trend, the opening price of the current month 1704 contract was 36400 yuan / ton, as of 15:00 pm, the latest price was 36680 yuan / ton, up 380 yuan; The lowest price during the day was 36210 yuan / ton, and the highest price was 36880 yuan / ton
.
The main opening price of Shanghai copper was 36080 yuan / ton, as of 15:00 pm, the latest price was 36240 yuan / ton, up 320 yuan; The lowest price within the day is 35820 yuan / ton, and the highest price is 36520 yuan / ton
.

Shanghai copper

In terms of external trading, international metals rose across the board yesterday evening, and London copper also rose in shock, but the rally was not firm, and it fell
back after rushing higher.
Today, the London copper market opened flat, moving higher from one-month lows during the day as a weak dollar mitigated the impact
of a series of poor U.
S.
corporate earnings.
Expectations of renewed weakness in the global economy have been fueled by poor corporate earnings reports, and concerns about metal demand have reignited
.
Three-month copper on the London Metal Exchange rose 0.
57 percent to $4,735 a tonne, after rising 0.
6 percent
in the previous session.
Copper prices fell to their lowest level since April 12 at $4,663.
50 on Tuesday
.

3.
Overview of the domestic copper market

On the macro front, financial markets diverged overnight, with European and American stocks closing lower, while commodities rose
overall.
The decline in stocks weighed on a weaker dollar, unable to stay above 94, and the first correction in nearly a week also boosted metal prices
.
Base metals are denominated in US dollars, and when the US dollar falls, the price of metals denominated in US dollars becomes lower
for holders of other currencies.
In addition, the rise in international oil prices supported the shock rebound
of base metals such as copper and aluminum.
Crude oil data released by the US Energy Information Administration on the 11th showed that commercial crude oil inventories in the United States fell by 3.
4 million barrels to 540 million barrels last week, and the unexpected sharp reduction in inventories made crude oil futures prices soar
instantly.

In terms of the market, today's Shanghai electrolytic copper spot reported a premium of 20 yuan / ton - 70 yuan / ton, flat water copper trading price of 35780 yuan / ton - 36120 yuan / ton, liter copper trading price of 35800 yuan / ton - 36160 yuan / ton
.
Shanghai copper fluctuated higher, the basis of the next month once widened to 200 yuan / ton, and the copper premium in the morning showed a pattern
of first expansion and then closing.
Traders bought and sold aggressively in the morning, and holders were reluctant to sell, so that the price of good copper rose rapidly from 50 yuan / ton to 70 yuan / ton
.
With the rise in market prices, holders began to actively ship, market supply increased and brands diversified, and copper premium was suppressed, resulting in a weakening of transaction activity
.

4.
Copper closing situation

Today, after the opening of copper prices first slightly lower, Shanghai copper 1607 contract down to 35840 yuan / ton, then crude oil higher, Shanghai copper in a stepped up, the highest to 36520 yuan / ton, the end of the sharp fall to give up half of the gains, 1607 contract finally closed 36240 yuan / ton, up 320 yuan / ton, up 0.
89%.

Today's Shanghai copper rush is blocked, currently breaking through the 10-day moving average, reducing positions on the momentum is limited, pay attention to the support
around 36,000 yuan / ton in the evening.

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