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Shanghai copper opens high and goes high The fundamentals are still supported

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

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Today's Shanghai copper opened high, the main monthly 2106 contract opened at 76,000 yuan / ton, the highest intraday 77,150 yuan / ton, the lowest 75,670 yuan / ton, settled 76,370 yuan / ton, closed at 77,090 yuan / ton, up 1230 yuan
.
The trading volume of the main 2106 contract of Shanghai copper decreased by 113814 lots 199333 lots throughout the day, and the position decreased by 623 to 138657 lots
.

Shanghai copper

During the Asian session, London copper fluctuated strongly, and the latest quotation at 15:01 Beijing time was 10,579 US dollars / ton, up 23 US dollars, or 0.
22%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 76070 yuan / ton, up 620 yuan, discount 60-discount 0; Guangdong spot 1# copper price was 76060 yuan / ton, up 610 yuan; Yangtze River spot 1# copper 76110 yuan / ton, up 630 yuan, discount 20-liter water 0; Shanghai spot 1# copper price was 76,010 yuan / ton, up 660 yuan
.

In the spot market, the holders are actively shipping, traders are receiving goods at a low price, and the downstream just needs to purchase
.
Chile's sulfuric acid shortage may interfere with copper production, BHP Billiton's two Chilean copper mines are at risk of strike, copper concentrate processing fees have recovered from low levels but are still at low levels, and fundamentals are still supported
.

There are reports of a shortage of sulfuric acid in Chile, which could affect copper mining operations, which could affect up to 12% of the country's production; Meanwhile, after BHP Billiton stalled in contract negotiations, union workers at Chile's Escondida and Spence copper mines will hold strike votes, supply-side disruptions continue, and spot copper prices are expected to rise
.

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