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On Friday, the Shanghai copper shock weakened, the main month 2009 contract opened at 51830 yuan / ton, the highest intraday 52470 yuan / ton, the lowest 51060 yuan / ton, settled 51800 yuan / ton, closed 51220 yuan / ton, down 520 yuan
.
During the Asian session, London copper opened low and went low, and the latest quotation at 15:00 Beijing time was 6382 US dollars / ton, down 124 US dollars, or 1.
91%.
In terms of the market, the domestic spot copper price rose slightly on Friday, and the Yangtze River nonferrous metal network 1# copper price was reported at 51960 yuan / ton, up 50 yuan, and the premium was 30-90; Guangdong spot 1# copper price was 51950 yuan / ton, up 40 yuan; Yangtze River spot 1# copper price 52050 yuan / ton, up 40 yuan, premium 120-liter 160; Shanghai spot 1# copper price was 51920 yuan / ton, up 55 yuan
.
In the spot market, the willingness of holders to exchange cash is strong, the supply and demand sides are in a tug-of-war, the willingness to receive goods downstream is sluggish, and the actual consumption is weak
.
The off-season effect of the domestic market has become more and more obvious, Sino-US relations have become more tense, market risk aversion has heated up, and copper prices have retraced
.
In terms of news, data from Agence France-Presse on the 23rd showed that the number of
new confirmed cases in the world on Wednesday exceeded 266,000.
As of the early morning of the 24th Beijing time, the cumulative number of confirmed cases in the world exceeded 15.
28 million, and the cumulative number of deaths exceeded 624,000, with the Americas, including the United States and Brazil, bearing the brunt
.
Industry news, foreign news on July 23, a union source said that workers at Chilean mining company Antofagasta, one of the world's largest copper producers, and its Zaldivar mine decided to extend negotiations on a new union contract mediated by the government to avoid a strike
.
In terms of stocks, LME stocks decreased by 1,250 tons, and global stocks continued to deteriorate
.
In general, the tight situation on the supply side does not change, and the recovery of consumer goods retail sales data indicates that the demand side is weak recovery, short-term supply and demand contradictions are difficult to improve, and it is still necessary to pay attention to the risks that may be brought by the second outbreak of the epidemic in the
United States and South America.
