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Shanghai copper is difficult to shake off the downward trend Prices continue to fall

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai copper trend is weak, the main month 2109 contract opened at 71680 yuan / ton, the highest intraday 71690 yuan / ton, the lowest 70440 yuan / ton, settled 71560 yuan / ton, closed 70450 yuan / ton, down 1110 yuan
.
The trading volume of the main 2109 contract of Shanghai copper decreased by 58998 lots 110158 lots, and the position volume 127089 decreased by 7520 lots
.

Shanghai copper

During the Asian session, London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 9630 US dollars / ton, up 14 US dollars, or 0.
14%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 71060 yuan / ton, down 710 yuan, premium 290-350; Guangdong spot 1# copper price was reported at 70800 yuan / ton, down 640 yuan; Yangtze River spot 1# copper 71140 yuan / ton, down 710 yuan, premium 380-liter 400; Shanghai spot 1# copper price was 71030 yuan / ton, down 695 yuan
.

In the spot market, fear of heights is strong, downstream is on the rise, only maintain just need to purchase, the overall trading is general, and the transaction activity is relatively light
.
Worries about the epidemic have intensified again, making the overall market atmosphere continue to be pessimistic, and the speed of domestic copper stocks has slowed down significantly.

In terms of news, South American mines encountered the threat of strike, but global copper production increased, Codelco increased copper production, Zijin mining gold and copper increased by 8.
8% and 4.
3% respectively year-on-year, as of July 30, China's import of 25% copper concentrate spot processing fees rose to 52-57 US dollars / ton, and copper consumer demand stagnated again, copper prices fell
.

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