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Shanghai copper morning review on August 14

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

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Shanghai copper opened high and fluctuated yesterday evening, and the latest closing price of the main month 1810 contract was 49700 yuan / ton, up 20 yuan, or 0.
04%.

Shanghai copper

Affected by the strong trend of the US dollar, nonferrous metals were generally under pressure, and copper prices remained range-bound, running below 50,000 yuan / ton, closing at 49,750 yuan / ton
.
Spot contracts for the month reported a premium of 40 yuan / ton ~ 70 yuan / ton, the downstream maintained rigid demand, the holders were unwilling to reduce the price too much, the spot premium was firm and did not fall, and the futures plate was temporarily difficult to get rid of the range shock pattern, and the supply and demand sides were in a stalemate again
.

China has introduced a list of tariffs on $16 billion of imported goods, of which copper scrap is expected to account for nearly 20% of all copper scrap imports, which is expected to stimulate domestic consumption growth in the future
.
However, copper prices show a trend of sorting out in a phased range, and it is expected to maintain a narrow range in the short term when market sentiment gradually stabilizes
.

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