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Shanghai copper opens high and goes high, and there are still expectations for consumption improvement

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

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Today's Shanghai copper opened high, the main month 2105 contract opened at 66840 yuan / ton, the highest intraday 68180 yuan / ton, the lowest 66680 yuan / ton, settled 67400 yuan / ton, closed 68040 yuan / ton, up 1750 yuan
.
The trading volume of the main 2105 contract of Shanghai copper increased by 121603 lots to 190130 contracts throughout the day, and the position increased by 28770 to 161029 lots
.

Shanghai copper

During the Asian session, London copper rose rapidly after the shock, and the latest quotation at 15:01 Beijing time was 9176 US dollars / ton, up 96 US dollars, or 1.
06%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price was 67120 yuan / ton, up 990 yuan, 100-160 liters; Guangdong spot 1# copper price was 67120 yuan / ton, up 1070 yuan; Yangtze River spot 1# copper 67170 yuan / ton, up 990 yuan, discount 30-discount 10; Shanghai spot 1# copper price was 67180 yuan / ton, up 1010 yuan
.

In the spot market, the holders actively ship, the receiving atmosphere is weak, and the downstream just needs to purchase
.
U.
S.
economic growth accelerated, the supply side continued to be tight, domestic smelters were overhauled in the second quarter, consumption improvement was still expected, and copper prices were supported
.

On the news front, the global green revolution boosted demand growth, Goldman Sachs is doubly bullish on the outlook for copper, which is facing a historic shortage, expected to reach $15,000 per ton by 2025 and $11,000 per ton in the next 12 months
.
The current tight supply of copper mines is still continuing, the lockdown measures in Chile and other countries have led to supply reduction, the supply of imported copper mines has not yet recovered significantly, and spot copper prices are expected to rise
sharply.

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