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Shanghai copper is weak and volatile, and downstream consumption is general

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

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Today's Shanghai copper is weak and volatile, the main month 2106 contract opened at 74360 yuan / ton, the highest intraday 75290 yuan / ton, the lowest 74200 yuan / ton, settled 74680 yuan / ton, closed 74750 yuan / ton, down 50 yuan
.
The trading volume of the main 2106 contract of Shanghai copper decreased by 61745 lots 175719 lots, and the position decreased by 4072 to 121419 lots
.

Shanghai copper

During the Asian session, London copper trend is stronger, the latest quotation at 15:01 Beijing time is 10296 US dollars / ton, up 62.
5 US dollars, or 0.
61%.

In terms of the market, today's domestic spot copper prices fell, 1# copper price was reported at 74500 yuan / ton, down 370 yuan, premium 90-150; Guangdong spot 1# copper price was reported at 74530 yuan / ton, down 430 yuan; Yangtze River spot 1# copper 74610 yuan / ton, down 420 yuan, discount 130-discount 110; Shanghai spot 1# copper price was 74620 yuan / ton, down 240 yuan
.

In the spot market, holders ship at high prices, downstream consumption is general, and traders are mainly
traded.
BHP Billiton's Chilean Escondida and Spence copper miners will reject the company's contract proposal, the risk of strikes at the two major copper mines will rise, and the tight supply-side pattern will continue, but the current downstream consumption is suppressed by high prices, and short-term copper prices will remain volatile
.

Copper inventories rose by 20,706 tonnes to 229179 tonnes last week, marking two consecutive weeks of gain
.
Since the beginning of this year, the import volume of recycled copper has improved significantly year-on-year, the recent price spread of refined waste has widened, the raw material supply structure has been optimized, and the high price will still inhibit the purchase of downstream enterprises in the short term, and the spot copper price is expected to fall
.

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