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Today's Shanghai copper shock picked up, the main month 2201 contract opened at 67860 yuan / ton, the highest intraday 68760 yuan / ton, the lowest 67040 yuan / ton, settled 68660 yuan / ton, closed 68590 yuan / ton, down 70 yuan, down 0.
10%.
The trading volume of the main 2201 contract of Shanghai copper increased by 36961 lots 132546 the whole day, and the position volume 125813 decreased by 9761 lots
.
During the Asian session, London copper opened high, and the latest quotation at 15:01 Beijing time was 9391 US dollars / ton, up 135 US dollars, or 1.
45%.
In terms of the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 68530 yuan / ton, down 460 yuan, premium 180-240; Guangdong spot 1# copper price was 68460 yuan / ton, down 500 yuan / ton; Yangtze River spot 1# copper 68570 yuan / ton, down 480 yuan, premium 210-liter 250; Shanghai spot 1# copper price was 68500 yuan / ton, down 370 yuan
.
In the spot market, holders continued to reduce shipments for cash, downstream bargain entry inquiry, just need to stock, trading atmosphere slightly warmed up, the overall trading volume was better than yesterday
.
The Fed's interest rate meeting was in line with expectations, copper prices rebounded and picked up, while domestic spot turned to premium, which also supported prices, but the epidemic spread to demand further weakened, copper prices maintained a volatile pattern
.
On the supply side, electrolytic aluminum production continues to run at a low level, paying attention to the possible reduction of production of electrolytic aluminum enterprises in Ningxia and Inner Mongolia
.
On the demand side, downstream consumption is relatively stable, and it is expected to continue to drive destocking
during the week.
On the cost side, the price of alumina continued to fall, driving the cost of electrolytic aluminum to continue to decline
.
It is expected that Shanghai aluminum will remain range-bound, and it still needs to pay attention to the sustainability of consumption and cost changes
.
The domestic real estate market has continued to be sluggish recently, the final demand for aluminum has been suppressed, while the support of aluminum cost has weakened, and the price of alumina has recently fallen closer to the cost, which has formed a certain drag on aluminum prices, and aluminum may fall
.
