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Today's Shanghai copper is strong and volatile, the intraday trend weakened slightly, the main month 2211 contract opened at 63700 yuan / ton, the highest intraday 63760 yuan / ton, the lowest 62840 yuan / ton, settled 62940 yuan / ton, closed 63080 yuan / ton, up 140 yuan, or 0.
22%.
During the Asian session, London copper fluctuated at a wide high, and the latest quotation at 15:01 Beijing time was 7558 US dollars / ton, up 26 US dollars, or 0.
35%.
Today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 64950 yuan / ton, down 180 yuan, premium 1640-liter 1680; The Yangtze River Comprehensive 1# copper price was reported at 64940 yuan / ton, down 160 yuan, and the premium was 1750-1870; Guangdong spot 1# copper price was reported at 64920 yuan / ton, down 150 yuan, premium 1530-1730; Shanghai spot 1# copper price was 64730 yuan / ton, down 190 yuan
.
In the spot market, monthly delivery, spot premium expanded, and holders sharply adjusted prices and shipments, but the market trading sentiment was poor, and the trading volume declined
.
Macro pressure continued, and the surge in copper inventories in London and Shanghai weakened the support for copper prices, but global copper supply concerns heated up, and domestic and foreign spot premiums rose, forming a bottom support for copper prices, and the Shanghai copper shock closed slightly higher
during the day.
Domestically, the epidemic has been repeated, but from the perspective of traders' discussion factors, the influence has weakened, and the market focus is not clear
.
From the perspective of domestic fundamentals, October plays a role in connecting the upper and lower, and the manufacturing industry seasonally is also the peak month of the year, so there will be no obvious decline in the fundamentals of that month, and even the month-on-month improvement can be seen
.
In addition, the performance of the stock market is more disruptive to copper prices, or the market hopes that the stock market rebound will drive a round of copper bullish sentiment, which is possible, but caution should be exercised
.
On the whole, the fourth quarter copper price "weak trend, phased repair" market will continue, October should not be too bearish, the price or the bottom range oscillation
.