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Shanghai copper fluctuated upward, peak season demand did not meet expectations

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

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Today's Shanghai copper shock upward, the end of the close flat, the main month 2105 contract opened at 65210 yuan / ton, the highest intraday 66390 yuan / ton, the lowest 64930 yuan / ton, settled 65580 yuan / ton, closed 66170 yuan / ton, unchanged from the settlement price of the previous trading day
.

Shanghai copper

During the Asian session, London copper opened high, and the latest quotation at 15:00 Beijing time was 8888 US dollars / ton, up 89 US dollars, or 1.
01%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 65650 yuan / ton, down 200 yuan, discount 120-discount 60; Guangdong spot 1# copper price was 65620 yuan / ton, down 210 yuan; Yangtze River spot 1# copper 65740 yuan / ton, down 190 yuan, discount 30-discount 10; Shanghai spot 1# copper price was 65660 yuan / ton, down 240 yuan
.

In the spot market, the willingness of holders to be low is not large, and the downstream just needs to consume and the transaction is not smooth
.
It is reported that China's copper smelters do not set a minimum standard for Q2 processing and refining fees, and the supply of copper concentrate is tight, but the current peak season demand has not met expectations, and copper prices have fluctuated
.

In terms of news, the current commodity risk willingness has cooled, the market is worried about China's demand, the current downstream consumption has not been verified, demand has not recovered quickly, inventory accumulation pressure is greater, lack of favorable boost, spot copper prices are expected to fall
.

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