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Shanghai copper oscillations are strong, and the characteristics of the off-season are revealed

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Today's Shanghai copper shock is strong, the main month 2102 contract opened at 58220 yuan / ton, the highest intraday 58550 yuan / ton, the lowest 57710 yuan / ton, settlement 58090 yuan / ton, closed 58110 yuan / ton, up 60 yuan
.
The trading volume of the main 2102 contract of Shanghai copper increased by 20,608 lots throughout the day 103527, and the position decreased by 391 to 96,490 lots
.

Shanghai copper

During the Asian session, London copper opened high and went higher, and the latest quotation at 15:00 Beijing time was 7925.
5 US dollars / ton, up 69.
5 US dollars, or 0.
88%.

In the spot market, today's domestic spot copper prices rose slightly, Yangtze River non-ferrous metal network 1# copper price was reported at 58210 yuan / ton, up 120 yuan, 120-180 liters; Guangdong spot 1# copper price reported 58170 yuan / ton, up 120 yuan; Yangtze River spot 1# copper price 58270 yuan / ton, up 110 yuan, premium 180-liter 200; Shanghai spot 1# copper price was 58120 yuan / ton, up 65 yuan
.

Holders hold up prices and ship, traders are cautious, and downstream consumption is not obvious
.
Total stock on exchanges remains low, factory activity is expanding in major economies, but domestic consumption is showing signs of weakening and copper prices are volatile
.

At present, the copper market is weak at home and strong outside, domestic consumption is weakening, inventory is increasing, the refined waste ratio is at a high level, the characteristics of the off-season are visible, and foreign inventories continue to decline
.
Overall, the copper market is still adjusting at the $8,000 integer mark, waiting for clarity
.

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