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Shanghai copper regains the rally resistance is still large

 Last Update: 2022-12-02
 Source: Internet
 Author: User

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1.
Summary of copper prices in major domestic cities

market	name of article	Material	Price range		Change	remark
Guangdong spot	1# Copper	1 #	35560-35760	Yuan/ton	240	Tax included
Shanghai spot	1# Copper	1 #	35550-35670	Yuan/ton	270	Tax included
Shanghai spot	Flat water copper		35550-35650	Yuan/ton	270	Tax included
Shanghai spot	Liters of copper		35570-35670	Yuan/ton	270	Tax included
Shanghai	1# Copper	1 #	35550-35650	Yuan/ton	200	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	33200-33400	Yuan/ton	400	Tax not included
Jinan spot	1# Copper	1 #	35700-35700	Yuan/ton	200	Tax included
Shenyang spot	1# Copper	1 #	35800-35800	Yuan/ton	200	Tax included
Beijing spot	1# Copper	1 #	35750-35750	Yuan/ton	200	Tax included
Tianjin spot	1# Copper	1 #	35750-35750	Yuan/ton	200	Tax included
Wuxi spot	1# Copper	1 #	35750-35750	Yuan/ton	200	Tax included
Xi'an spot	1# Copper	1 #	35800-35800	Yuan/ton	200	Tax included
Chongqing spot	1# Copper	1 #	35800-35800	Yuan/ton	200	Tax included
Guangzhou spot	1# Copper	1 #	35830-35830	Yuan/ton	250	Tax included
Wuhan spot	1# Copper	1 #	35750-35750	Yuan/ton	200	Tax included
Kunming spot	1# Copper	1 #	35850-35850	Yuan/ton	200	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 35560-35760 Yuan/ton 240 Tax included Shanghai spot 1# Copper 1# 35550-35670 Yuan/ton 270 Tax included Shanghai spot Flat water copper 35550-35650 Yuan/ton 270 Tax included Shanghai spot Liters of copper 35570-35670 Yuan/ton 270 Tax included Shanghai 1# Copper 1# 35550-35650 Yuan/ton 200 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 400 Tax not included Jinan spot 1# Copper 1# 35700-35700 Yuan/ton 200 Tax included Shenyang spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Beijing spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Tianjin spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Wuxi spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Xi'an spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Chongqing spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Guangzhou spot 1# Copper 1# 35830-35830 Yuan/ton 250 Tax included Wuhan spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Kunming spot 1# Copper 1# 35850-35850 Yuan/ton 200 Tax included market name of article Material Price range Change remark Market market Product name, product name Material material Price RangePrice Range Ups and downs Remarks Note: Remarks Guangdong spot 1# Copper 1# 35560-35760 Yuan/ton 240 Tax included Guangdong spot 1# Copper 1# 35560-35760 Yuan/ton 240 Tax included Shanghai spot 1# Copper 1# 35550-35670 Yuan/ton 270 Tax included Shanghai spot 1# Copper 1# 35550-35670 Yuan/ton 270 Tax included Shanghai spot Flat water copper 35550-35650 Yuan/ton 270 Tax included Shanghai spot Flat water copper 35550-35650 Yuan/ton 270 Tax included Shanghai spot Liters of copper 35570-35670 Yuan/ton 270 Tax included Shanghai spot Liters of copper 35570-35670 Yuan/ton 270 Tax included Shanghai 1# Copper 1# 35550-35650 Yuan/ton 200 Tax included Shanghai 1# Copper 1# 35550-35650 Yuan/ton 200 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 400 Tax not included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton 400 Tax not included Jinan spot 1# Copper 1# 35700-35700 Yuan/ton 200 Tax included Jinan spot 1# Copper 1# 35700-35700 Yuan/ton 200 Tax included Shenyang spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Shenyang spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Beijing spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Beijing spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Tianjin spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Tianjin spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Wuxi spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Wuxi spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Xi'an spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Xi'an spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Chongqing spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Chongqing spot 1# Copper 1# 35800-35800 Yuan/ton 200 Tax included Guangzhou spot 1# Copper 1# 35830-35830 Yuan/ton 250 Tax included Guangzhou spot 1# Copper 1# 35830-35830 Yuan/ton 250 Tax included Wuhan spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Wuhan spot 1# Copper 1# 35750-35750 Yuan/ton 200 Tax included Kunming spot 1# Copper 1# 35850-35850 Yuan/ton 200 Tax included Kunming spot 1# Copper 1# 35850-35850 Yuan/ton 200 Tax included

2.
Market review

Today's Shanghai copper main force opened low and high, and regained its rally within the day, but the resistance of the 36000 line is still large
.
The opening price of the current month's 1704 contract was 36620 yuan / ton, and as of 15:00 p.
m.
, the latest price was 36320 yuan / ton, up 360 yuan; The lowest price during the day was 36100 yuan / ton, and the highest price was 36620 yuan / ton
.
The main opening price of Shanghai copper was 35,500 yuan / ton, and as of 15:00 p.
m.
, the latest price was 35,870 yuan / ton, up 430 yuan; The lowest price within the day is 35500 yuan / ton, and the highest price is 35960 yuan / ton
.

Shanghai copper

Externally, yesterday, Goldman Sachs raised its oil price forecast for this year, and U.
S.
oil closed up more than 3% in the evening, the highest close since November 3, 2015, driven by commodity prices, London copper closed at $4655, up $33, or 0.
7%.

Today, London copper extended its rally, boosted by higher oil prices and strong performance of listed companies, while investors expected further measures to consolidate China's economic recovery
after moderate economic growth in April.
The London Metal Exchange (LME) three-month copper was last quoted at $4,660 a tonne, up 0.
5%
at the end of the day.
Copper prices are now rebounding
modestly from a two-and-a-half-month low of $4,594, hit on May 13.

3.
Overview of the domestic copper market

On the macro front, the rebalancing of the crude oil market has begun due to the explosion of the Nigerian oil pipeline, and the market may fall into a situation of short supply, which supports the rise in oil prices and boosts the metals market
.
China's economic data for April released over the weekend was disappointing, with both industrial and investment growth slower than expected, especially the continued decline in private investment
.
However, the rise in real estate volume and price, fixed asset investment in place and the growth rate of funds have further accelerated, which means that under the support of infrastructure and real estate investment, the economy will still operate smoothly in the short term, and the demand outlook for the copper market may be slightly supported
.

In terms of the market, today's Shanghai electrolytic copper spot report discount 80 yuan / ton - discount 40 yuan / ton, flat water copper transaction price 35550 yuan / ton - 35650 yuan / ton, premium copper transaction price 35570 yuan / ton - 35670 yuan / ton
.
In early trading, middlemen maintained a stable discount level yesterday, encountered positive buying, low-priced goods were quickly absorbed, and pushed the intraday discount narrowed, and the supply held firm and the price was tight
.
Holders are reluctant to sell at high prices, and consignees have little room to reduce prices
, and the supply and demand sides are slightly deadlocked.
The tail plate discount continued to narrow, but there were few responders
.
Today's market trade is active, downstream buying is indifferent, intending to wait for the cheap supply after delivery, but the market discount tug of war state or continuation
.

4.
Copper closing situation

Overnight, the Shanghai copper 1607 contract opened at 35500 yuan / ton, after the opening copper price rushed back down, touching 35920 yuan / ton, and finally Shanghai copper closed at 35740 yuan / ton, up 300 yuan / ton
.
Today, the main force of Shanghai copper after the opening by the rise of crude oil, the weakening of the US dollar and volatility higher, broke through the 5-day moving average, the end of the slight correction, Shanghai copper 1607 finally closed 35900 yuan / ton, up 460 yuan / ton, up 1.
30%.

Today's Shanghai copper sharply reduced its position to the upside, the 5-day moving average lost and recovered, did not see the bulls obviously entered, and paid attention to the pressure
around 36,000 yuan / ton in the evening.

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