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Shanghai copper opens low and goes low, and the market is trading cautiously

 Last Update: 2022-12-23
 Source: Internet
 Author: User

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Today's Shanghai copper opened low and went low, the intraday market showed a recovery, the main month 2111 contract opened at 75510 yuan / ton, the highest intraday 76170 yuan / ton, the lowest 74510 yuan / ton, settlement 75630 yuan / ton, closed 75810 yuan / ton, up 180 yuan
.
The trading volume of the main 2111 contract of Shanghai copper decreased by 73143 lots 147924 lots, and the position volume 149675 decreased by 8520 lots
.

Shanghai copper

During the Asian session, London copper ran at a high level, and the latest quotation at 15:01 Beijing time was 10,351 US dollars / ton, up 145 US dollars, or 1.
43%.

In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 75800 yuan / ton, down 500 yuan, premium 310-370; Guangdong spot 1# copper price reported 75870 yuan / ton, down 510 yuan; Yangtze River spot 1# copper 75860 yuan / ton, down 510 yuan, premium 380-liter 400; Shanghai spot 1# copper price was 75780 yuan / ton, down 175 yuan
.

In the spot market, holders actively quote, downstream bargain entry market inquiry, downstream bearish and wait and see, cautious trading, the overall trading volume is average
.
Overseas mine disturbances are limited, and the speed of LME destocking slows down, as well as the pressure of high copper prices, downstream consumer demand weakens, and short-term copper prices soar and fall
.

At present, the pressure on the supply side of electricity prices has soared, but copper prices have continued to rise, downstream procurement is cautious, and the LME destocking range has decreased greatly, domestic copper social stocks have accumulated slightly, copper price volatility has intensified, and copper is expected to fall
.

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