echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper high opening is running strongly, and the overall trading activity is acceptable

    Shanghai copper high opening is running strongly, and the overall trading activity is acceptable

    • Last Update: 2023-02-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper opened strongly, the main month 2301 contract opened at 65160 yuan / ton, the highest intraday 65920 yuan / ton, the lowest 65140 yuan / ton, settled 65160 yuan / ton, closed 65760 yuan / ton, down 600 yuan, or 0.
    92%.

    The main 2301 contract of Shanghai copper had a full-day trading volume of 65,815 lots, a decrease of 6,055 lots, and a decrease of 10,179 lots 104044 positions
    .

    Shanghai copper

    During the Asian session, London copper rebounded after diving at a high level, and the latest quotation at 15:01 Beijing time was 8384 US dollars / ton, up 11 US dollars, or 0.
    13%.

    Today's domestic spot copper prices rose, Yangtze River spot 1# copper reported 66430 yuan / ton, up 660 yuan, liters 550-590; The Yangtze River Comprehensive 1# copper price was reported at 66370 yuan / ton, up 680 yuan, and the premium was 450-570; Guangdong spot 1# copper price was reported at 66310 yuan / ton, up 700 yuan, premium 350-550; Shanghai spot 1# copper price was 66330 yuan / ton, up 670 yuan
    .

    In the spot market, holders are bullish on price shipments, and downstream maintenance just needs to be supplemented, trading is deadlocked, and trading volume is limited
    .
    The Bank of Japan unexpectedly adjusted monetary policy, the sharp rise in the yen weighed on the dollar, the weak dollar supported metal prices, coupled with the global exchange copper inventory remains tight, domestic spot premium stabilized and rebounded, positive copper prices, short-term Shanghai copper strong rebound
    .

    Shanghai copper opened higher in the morning today, and the latest opening price of the main month 2301 contract was 65720 yuan / ton, up 560 yuan
    .
    Domestic smelting enterprise production disturbance to enhance production will be less than expected, premium rebound to a high level to bring short-term price support, the current industrial chain supply and demand and low inventory is still conducive to copper prices, plus the market supply is basically swept away, there is no market priceless, the overall trading activity is acceptable, copper or 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.