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Shanghai copper runs high, and the market is deadlocked

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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copper metal

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Today's Shanghai copper running at a high level, refreshing the high since June 2018, the main monthly 2101 contract opened at 53850 yuan / ton, the highest intraday 54540 yuan / ton, the lowest 53700 yuan / ton, settled 54090 yuan / ton, closed 53970 yuan / ton, up 890 yuan
.
The trading volume of the main 2101 contract of Shanghai copper increased by 83947 lots throughout the day 218768, and the position increased by 8577 to 147408 lots
.

Shanghai copper

During the Asian session, London copper was weak and volatile, and the latest quotation at 15:00 Beijing time was 7235 US dollars / ton, down 26 US dollars, or 0.
36%.

Today's domestic spot copper prices rose sharply, Yangtze River non-ferrous metal network 1# copper price was reported at 54240 yuan / ton, up 1150 yuan, premium 190-liter 250; Guangdong spot 1# copper price was 54090 yuan / ton, up 1170 yuan; Yangtze River spot 1# copper price 54290 yuan / ton, up 1100 yuan, premium 260-liter 280; Shanghai spot 1# copper price was 54150 yuan / ton, up 1010 yuan
.

In the spot market, holders lowered premium shipments, high prices suppressed purchasing sentiment, traders speculated cautiously, and transactions were deadlocked
.
Chilean copper mines have re-emerged, political turmoil in Peru may affect supply, China's copper market inventories continue to decline, demand side performance is good, copper prices are supported
.

In terms of news, Chilean copper mines are still disturbed, and Candelaria copper miners under Lundin Mining agreed to end the strike, but Centinela copper miners under Antofagasta said they were ready to vote for a strike; China's demand is strong, the copper inventory in the previous period continues to deteriorate sharply, the social inventory is out of the warehouse sharply, and spot copper prices are expected to rise
today.

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