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Shanghai copper oscillates around the moving average, and the market trading performance is average

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

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Today's Shanghai copper oscillated around the moving average, the main month 2106 contract opened at 68830 yuan / ton, the highest intraday 69720 yuan / ton, the lowest 68740 yuan / ton, settled 69200 yuan / ton, closed 69150 yuan / ton, up 210 yuan
.
The trading volume of the main 2106 contract of Shanghai copper decreased by 15819 lots 165812 the whole day, and the position increased by 5414 to 175681 lots
.

Shanghai copper

During the Asian session, London copper was weak and volatile, and the latest quotation at 15:01 Beijing time was 9419 US dollars / ton, down 31 US dollars, or 0.
33%.

Today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was 68790 yuan / ton, up 190 yuan, discount 80-discount 20; Guangdong spot 1# copper price was 68680 yuan / ton, up 190 yuan; Yangtze River spot 1# copper 68800 yuan / ton, up 210 yuan, discount 60-discount 40; Shanghai spot 1# copper price was 68830 yuan / ton, up 300 yuan
.

In the spot market, traders are waiting and seeing, downstream consumption is weak, the demand for stocking is not large, and the transaction performance is average
.
The agency expects a record supply of scrap copper this year, but the growth rate cannot meet demand, and there will eventually be a gap, short-term South American supply disruptions, copper prices remain high and volatile
.

On the news front, BHP Billiton and Antofagasta Mining fell copper production in the first quarter, pandemic-related lockdown measures affected mining activity in Chile, while uncertainty over the Peruvian election is increasing mining investment risks, Citi expects copper demand to rise 6.
5% this year to 24.
75 million tons, with a supply gap of 521,000 tons, and spot copper prices are expected to rise
.

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