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Shanghai copper ran at a high level to a nearly ten-year high

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

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Today's Shanghai copper high running, rising to a decade high, the main month 2104 contract opened at 68390 yuan / ton, the highest intraday 70740 yuan / ton, the lowest 67900 yuan / ton, settlement 69380 yuan / ton, close 70150 yuan / ton, up 2460 yuan
.
The trading volume of the main 2104 contract of Shanghai copper decreased by 51,331 lots throughout the day 403093, and the position increased by 756 to 154,200.

Shanghai copper

During the Asian session, London copper fluctuated at a high level, and the latest quotation at 15:00 Beijing time was 9545.
5 US dollars / ton, up 48 US dollars, or 0.
51%.

In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River nonferrous metal network 1# copper price was reported at 70170 yuan / ton, up 1950 yuan, discount 260-discount 200; Guangdong spot 1# copper price reported 70170 yuan / ton, up 2000 yuan; Yangtze River spot 1# copper 70260 yuan / ton, up 2010 yuan, discount 160-discount 140; Shanghai spot 1# copper price was 69900 yuan / ton, up 1825 yuan
.

Spot market, discount quotations, downstream fear of high consumption is weak, traders are not
happy to buy.
The Fed continues to loosen monetary policy to support economic growth, still believes that the US will achieve its inflation target, institutions expect a shortage in the copper market this year, the outlook for economic recovery demand is good, and copper prices continue to climb
.

In terms of news, institutions expect a record gap in the refined copper market this year, a global green wave, the development of new energy vehicles and other industries, the outlook for copper concentrate supply is still pessimistic, the macro easing environment also provides support, and spot copper prices are expected to rise
.

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