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Shanghai copper is weak and volatile, and the overall trading of the market is relatively deadlocked

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

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Today's Shanghai copper is weak and volatile, the main month 2107 contract opened at 70990 yuan / ton, the highest intraday 71880 yuan / ton, the lowest 71050 yuan / ton, settled 71610 yuan / ton, closed 71290 yuan / ton, down 320 yuan
.
The trading volume of the main 2107 contract of Shanghai copper decreased by 36291 lots 102273 the whole day, and the position volume of 132479 increased by 1535 lots
.

Shanghai copper

During the Asian session, London copper was running weakly, and the latest quotation at 15:01 Beijing time was 9929 US dollars / ton, down 42 US dollars, or 0.
42%.

In the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 71310 yuan / ton, down 410 yuan, premium 120-liter 180; Guangdong spot 1# copper price was reported at 71160 yuan / ton, down 470 yuan; Yangtze River spot 1# copper 71350 yuan / ton, down 440 yuan, premium 150-liter 170; Shanghai spot 1# copper price was reported at 71280 yuan / ton, down 460 yuan
.

The spot market quotation is chaotic, the downstream chooses to wait and see, the overall trading is relatively deadlocked, and the transaction is weak
.
Kamoa Copper signed the Kakula Phase I reimbursement agreement and obtained a copper concentrate export license, and China's PPI surge raised concerns about government price limits, offsetting supply concerns and the demand outlook to support the market
.

On the news front, disruption at the South American mine continues, promising Peru's mining tax reform presidential candidate to lead the election, Chilean tax reform and BHP Billiton's mine strikes may hinder supply
.
The rapid growth of new energy vehicle production and sales in Europe and the United States in May, the development of the global industry to drive demand, spot copper prices are expected to rise
.

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