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Today's Shanghai copper shock operation, the main month 2009 contract opened at 51280 yuan / ton, the highest intraday 51890 yuan / ton, the lowest 51200 yuan / ton, settled 51550 yuan / ton, closed 51400 yuan / ton, down 10 yuan
.
During the Asian session, the London copper shock was weak, and the latest quotation at 15:00 Beijing time was 6470 US dollars / ton, down 0.
25%.
In terms of the market, today's domestic spot copper prices remained stable, Yangtze River nonferrous metal network 1# copper price was reported at 51410 yuan / ton, up 60 yuan, premium 30-liter 90; Guangdong spot 1# copper price was 51410 yuan / ton, up 50 yuan; Yangtze River spot 1# copper price 51490 yuan / ton, up 60 yuan, premium 130-liter 150; Shanghai spot 1# copper price was 51425 yuan / ton, up 45 yuan
.
In the spot market, there is a cautious wait-and-see mentality, middlemen maintain just need to trade, and downstream bargaining is replenished in small quantities
.
ANZ reports copper prices may fall as there are signs that supply is increasing and producers restart capacity closed due to the pandemic; A number of large copper mines in Chile expanded output in June, but the combined output fell by 0.
7% year-on-year, as small-scale minerals were forced to reduce production
.
At present, the bottom support of copper prices is limited, or it will remain volatile
.
Manufacturing activity in Europe and the United States has improved, economic recovery has driven some demand, LME copper stocks hit the lowest level since mid-January, and the proportion of warehouse receipts written off is close to 60%; Major copper producing countries such as Chile and Peru have gradually recovered and the impact of the epidemic is decreasing, but supply concerns remain in the second half of the year, and spot copper prices are expected to rise
.
