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Shanghai copper runs at a high level and the increase continues to narrow

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai copper high running, the rise continued to narrow, the main month 2107 contract opened at 71920 yuan / ton, the highest intraday 72130 yuan / ton, the lowest 71190 yuan / ton, settlement 71680 yuan / ton, closed 71390 yuan / ton, up 270 yuan
.
The trading volume of the main 2107 contract of Shanghai copper decreased by 117462 lots 124171 lots throughout the day, and the position decreased by 3586 to 135289 lots
.

Shanghai copper

During the Asian session, the trend of London copper was weak, and the latest quotation at 15:01 Beijing time was 9903.
5 US dollars / ton, down 56.
5 US dollars, or 0.
57%.

In terms of the market, today's domestic spot copper prices rose, 1# copper price was reported at 71600 yuan / ton, up 510 yuan, premium 70-130; Guangdong spot 1# copper price reported 71520 yuan / ton, up 530 yuan; Yangtze River spot 1# copper 71670 yuan / ton, up 500 yuan, premium 160-liter 180; Shanghai spot 1# copper price was 71530 yuan / ton, up 500 yuan
.

In the spot market, the wait-and-see mood is strong, the downstream consumption is general, and the circulation of traders is the mainstay
.
Global copper smelting activity continued to recover in May, with China's copper imports falling month-on-month and renewed concerns about weak domestic demand that could weigh on copper prices
.

In terms of news, copper concentrate supply disruptions continue, strikes at two copper mines in Chile have not ended, Escondida, the world's largest copper mine, has launched labor-management negotiations, and casualties have occurred in the Kamoa-Kakula copper mine project in the Democratic Republic of the Congo; Copper inventories fell by 6,110 tonnes to 201711 tonnes last week, falling for the third consecutive week.
Spot copper prices are expected to rise
today as Malaysia proposes stricter scrap imports.

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