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Shanghai copper returned to the downward trend intraday range volatility is the mainstay

 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 #	36780-36980	Yuan/ton	-210	Tax included
Shanghai spot	1# Copper	1 #	36820-36980	Yuan/ton	-175	Tax included
Shanghai spot	Flat water copper		36820-36960	Yuan/ton	-160	Tax included
Shanghai spot	Liters of copper		36830-36980	Yuan/ton	-185	Tax included
Shanghai	1# Copper	1 #	36800-36900	Yuan/ton	-200	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	34100-34300	Yuan/ton	-300	Tax not included
Jinan spot	1# Copper	1 #	36950-36950	Yuan/ton	-200	Tax included
Shenyang spot	1# Copper	1 #	37050-37050	Yuan/ton	-200	Tax included
Beijing spot	1# Copper	1 #	37000-37000	Yuan/ton	-200	Tax included
Tianjin spot	1# Copper	1 #	37000-37000	Yuan/ton	-200	Tax included
Wuxi spot	1# Copper	1 #	37000-37000	Yuan/ton	-200	Tax included
Xi'an spot	1# Copper	1 #	37050-37050	Yuan/ton	-200	Tax included
Chongqing spot	1# Copper	1 #	37050-37050	Yuan/ton	-200	Tax included
Guangzhou spot	1# Copper	1 #	37090-37090	Yuan/ton	-210	Tax included
Wuhan spot	1# Copper	1 #	37000-37000	Yuan/ton	-200	Tax included
Kunming spot	1# Copper	1 #	37100-37100	Yuan/ton	-200	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 36780-36980 Yuan/ton -210 Tax included Shanghai spot 1# Copper 1# 36820-36980 Yuan/ton -175 Tax included Shanghai spot Flat water copper 36820-36960 Yuan/ton -160 Tax included Shanghai spot Liters of copper 36830-36980 Yuan/ton -185 Tax included Shanghai 1# Copper 1# 36800-36900 Yuan/ton -200 Tax included Foshan spot 1# Electrolytic copper plate 1# 34100-34300 Yuan/ton -300 Tax not included Jinan spot 1# Copper 1# 36950-36950 Yuan/ton -200 Tax included Shenyang spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Beijing spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Tianjin spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Wuxi spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Xi'an spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Chongqing spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Guangzhou spot 1# Copper 1# 37090-37090 Yuan/ton -210 Tax included Wuhan spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Kunming spot 1# Copper 1# 37100-37100 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# 36780-36980 Yuan/ton -210 Tax included Guangdong spot 1# Copper 1# 36780-36980 Yuan/ton -210 Tax included Shanghai spot 1# Copper 1# 36820-36980 Yuan/ton -175 Tax included Shanghai spot 1# Copper 1# 36820-36980 Yuan/ton -175 Tax included Shanghai spot Flat water copper 36820-36960 Yuan/ton -160 Tax included Shanghai spot Flat water copper 36820-36960 Yuan/ton -160 Tax included Shanghai spot Liters of copper 36830-36980 Yuan/ton -185 Tax included Shanghai spot Liters of copper 36830-36980 Yuan/ton -185 Tax included Shanghai 1# Copper 1# 36800-36900 Yuan/ton -200 Tax included Shanghai 1# Copper 1# 36800-36900 Yuan/ton -200 Tax included Foshan spot 1# Electrolytic copper plate 1# 34100-34300 Yuan/ton -300 Tax not included Foshan spot 1# Electrolytic copper plate 1# 34100-34300 Yuan/ton -300 Tax not included Jinan spot 1# Copper 1# 36950-36950 Yuan/ton -200 Tax included Jinan spot 1# Copper 1# 36950-36950 Yuan/ton -200 Tax included Shenyang spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Shenyang spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Beijing spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Beijing spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Tianjin spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Tianjin spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Wuxi spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Wuxi spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Xi'an spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Xi'an spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Chongqing spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Chongqing spot 1# Copper 1# 37050-37050 Yuan/ton -200 Tax included Guangzhou spot 1# Copper 1# 37090-37090 Yuan/ton -210 Tax included Guangzhou spot 1# Copper 1# 37090-37090 Yuan/ton -210 Tax included Wuhan spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Wuhan spot 1# Copper 1# 37000-37000 Yuan/ton -200 Tax included Kunming spot 1# Copper 1# 37100-37100 Yuan/ton -200 Tax included Kunming spot 1# Copper 1# 37100-37100 Yuan/ton -200 Tax included

2.
Market review

Yesterday, Shanghai copper was mainly range-bound, around 37080-37350 yuan range narrow sorting, the fluctuation range is not large, the trend is relatively stable
.
Shanghai copper continued to open lower this morning, and the trend remained weak
.
The opening price of the current month's 1602 contract was 36140 yuan / ton, and as of 15:00 p.
m.
, the latest price was 36130 yuan / ton, down 80 yuan; The lowest price within the day is 36120 yuan / ton, and the highest price is 36180 yuan / ton
.
The main opening price of Shanghai copper was 37220 yuan / ton, and as of 15:00 pm, the latest price was 36840 yuan / ton, down 510 yuan; The lowest price during the day was 36820 yuan / ton, and the highest price was 37340 yuan / ton
.

Shanghai copper

Externally, London copper has been weak so far this week, with the London Metal Exchange (LME) March copper closing down another $67, or 1.
36%, to $
4,841 a tonne overnight.
Today's London copper futures remained near two-week lows, and the strengthening of the US dollar for two consecutive days weighed on the enthusiasm of the commodity market, giving the commodity market a little respite after the general rally in April, and copper prices will further consolidate
in the short term.
Three-month copper on the London Metal Exchange fell 0.
45% to $4,845 a tonne, after the contract hit a two-week low of $4,839 last day and closed below the 200-day moving average, signaling more selling on the technical side
.
Its cumulative gain last month was 4.
1%.

3.
Overview of the domestic copper market

On the macro front, U.
S.
economic data came out on Wednesday, and despite the unusually weak ADP employment data, the order services sector expanded well and there were signs that the manufacturing slump was nearing its end, and dollar bulls were in danger and updated their highs
.
A stronger dollar further weakened metal support, and weaker-than-expected manufacturing data from China weighed on base metal prices to the sharp downside
.
If the dollar maintains a strong rebound in the short term, copper prices still have room to fall, but the recent global economic indicators have been poor, the US economic data is also unsatisfactory, the expectation of a June interest rate hike has cooled, the dollar index may not have the possibility of a sustained rebound, so the copper price decline space will also be limited
.

In terms of the market, today's Shanghai electrolytic copper spot report discount of 10 yuan / ton - premium 20 yuan / ton, flat water copper transaction price of 36820 yuan / ton - 36960 yuan / ton, liter copper transaction price of 36830 yuan / ton - 36980 yuan / ton
.
Copper continued to fall, Shanghai copper fell below 36,900 yuan / ton, so that the current copper quotation from discount to premium, good copper opened the market to report a premium of 20 yuan / ton, flat water copper reported a discount of 10 yuan / ton was closed
in seconds.
Trading was active at the beginning of the morning, and downstream was more active
than before due to a sharp decline in the market.
The recovery in early trading led to an increase in the proportion of imported copper market and an increase
in market supply varieties.
The overall bullish sentiment of the copper market continued to push, but the rapid rise also inhibited trade flows, and the intraday market conditions first rose and then suppressed
.

4.
Copper closing situation

Today, after the opening of Shanghai copper, with the black series shock weakened, fell to 36850 yuan / ton after stabilizing and rebounding to touch 37000 yuan / ton, the dollar rose sharply in the afternoon, Shanghai copper returned to the downtrend, the lowest to 36820 yuan / ton, 1607 finally closed 36840 yuan / ton, down 510 yuan / ton, down 1.
37%.

Today, Shanghai copper continued to increase its position sharply, fell below the 60-day moving average, fell back to the previous rising platform, and paid attention to the support
around 36600 yuan / ton in the evening.

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