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Shanghai copper rose sharply and high prices weighed on the market's willingness to trade

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Today's Shanghai copper rose sharply, the main monthly 2202 contract opened at 69910 yuan / ton, the highest intraday 71330 yuan / ton, the lowest 69610 yuan / ton, settled 70530 yuan / ton, closed 71170 yuan / ton, up 1600 yuan, or 2.
30%.

The trading volume of the main 2202 contract of Shanghai copper increased by 26920 lots to 99650 lots throughout the day, and the position volume of 120293 increased by 10668 lots
.

Shanghai copper

During the Asian session, London copper trend is firm upward, the latest quotation at 15:01 Beijing time is 9828 US dollars / ton, up 99 US dollars, or 1.
02%.

Today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 70770 yuan / ton, up 860 yuan, premium 350-liter 410; Guangdong spot 1# copper price was reported at 70580 yuan / ton, up 840 yuan; Yangtze River spot 1# copper 70740 yuan / ton, up 840 yuan, premium 330-liter 370; Shanghai spot 1# copper price was 70890 yuan / ton, up 1020 yuan
.

In terms of news, due to the continuous decline in global inventories, Goldman Sachs raised its copper price forecast for this year, stimulating downstream factories to purchase replenishment, boosting the activity of the spot market, and it is expected that spot copper will rise
.

The high copper price during the day suppressed the willingness of the market to trade, the spot market transaction weakened, the downstream held a cautious wait-and-see attitude, the social inventory remained low, and the bullish atmosphere in the superimposed metal market was strong, which significantly boosted
copper prices.

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