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Shanghai copper rushed back down, and the downstream is still just demand-based

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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east asian market

40 1 mixture

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Today's Shanghai copper rushed back down, the main month 2104 contract opened at 66300 yuan / ton, the highest intraday 67490 yuan / ton, the lowest 65810 yuan / ton, settled 66700 yuan / ton, closed 66120 yuan / ton, down 450 yuan
.
The trading volume of the main 2104 contract of Shanghai copper increased by 3835 lots throughout the day 188885, and the position increased by 4852 to 130245 lots
.

Shanghai copper

During the Asian session, London copper fluctuated weakly, and the latest quotation at 15:00 Beijing time was 8883.
5 US dollars / ton, down 123 US dollars, or 1.
37%.

In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River nonferrous metal network 1# copper price was reported at 66620 yuan / ton, up 80 yuan, discount 70-discount 10; Guangdong spot 1# copper price was 66690 yuan / ton, up 120 yuan; Yangtze River spot 1# copper 66750 yuan / ton, up 80 yuan, premium 40-liter 60; Shanghai spot 1# copper price was 66560 yuan / ton, up 80 yuan
.

In the spot market, traders adjust prices and shipments, and the downstream is still just demand-based, and the transaction is
acceptable.
Short-term high prices dampened consumption performance and a stronger US dollar weighed on prices, although the traditional peak season is approaching, and copper concentrate supply expectations remain pessimistic
.

In terms of news, in the first two months of this year, China's copper imports increased year-on-year, import data showed that demand was still strong, and copper mine supply tightness continued; The domestic traditional consumption season is gradually approaching, the operating rate of the consumer industry is increasing, clean energy is still a bright spot, and spot copper prices are expected to rise
.

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