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Today's Shanghai copper opened lower, the main month 2009 contract opened at 50980 yuan / ton, the highest intraday 51100 yuan / ton, the lowest 50310 yuan / ton, settled 50750 yuan / ton, closed 50340 yuan / ton, up 30 yuan
.
During the Asian session, London copper was weak and volatile, and the latest quotation at 15:01 Beijing time was 6360 US dollars / ton, down 41 US dollars, or 0.
64%.
In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 50790 yuan / ton, up 700 yuan, 40-100 liters; Guangdong spot 1# copper price was 50790 yuan / ton, up 710 yuan; Yangtze River spot 1# copper price 50890 yuan / ton, up 690 yuan, premium 150-liter 170; Shanghai spot 1# copper price was 50,800 yuan / ton, up 710 yuan
.
In the spot market, traders are less willing to downgrade, downstream on-demand consumption, and the overall transaction is average
.
Investors are pinning their hopes on the United States to introduce an economic stimulus package, but Sino-US tensions have intensified, fundamental supply-side concerns have eased, the domestic auto market is generally stable, and copper prices may remain volatile
in the short term.
The recovery of the US labor market has been setback, the economic stimulus package has not been passed as scheduled, the international situation is also uncertain, and the sustained improvement of the economy is not optimistic
.
The supply side will also be gradually loosened, the market that supported the strengthening of prices in the early stage has gone to worry about the supply side, while the overseas epidemic has not been eased, the uncertainty of the international situation is high, and it also affects the market risk appetite, and copper prices are expected to continue to maintain a volatile downward trend
.