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Today's Shanghai copper trend is strong, the main month 2012 contract opened at 51890 yuan / ton, the highest intraday 52240 yuan / ton, the lowest 51780 yuan / ton, settled 52030 yuan / ton, closed 51840 yuan / ton, up 360 yuan
.
The trading volume of the Shanghai copper main 2012 contract increased by 47,950 lots 126705 the day, and the position increased by 759 to 108,510 lots
.
During the Asian session, London copper fluctuated at a high level, and the latest quotation at 15:00 Beijing time was 6965.
5 US dollars / ton, up 18.
5 US dollars, or 0.
27%.
In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 52270 yuan / ton, up 600 yuan, 130-190 liters; Guangdong spot 1# copper price reported 52270 yuan / ton, up 720 yuan; Yangtze River spot 1# copper price 52320 yuan / ton, up 610 yuan, premium 190-liter 210; Shanghai spot 1# copper price was 52250 yuan / ton, up 615 yuan
.
In the spot market, holders quoted firmly, traders were cautious, downstream consumption continued to be weak, and transactions were average
.
The macro atmosphere is generally warm, market risk sentiment is heating up, fundamental support is limited, and the traditional off-season in China is coming, but inventories are still dematerializing, and short-term copper prices fluctuate
at a high level.
In terms of inventories, copper inventories fell by 8,336 tonnes to 131321 tonnes in the week ended November 6, falling for the third consecutive week.
According to data from the General Administration of Customs, China's imports of unwrought copper and copper products in October increased by 43.
4% year-on-year, and the cumulative import volume from January to October has reached a new annual high, highlighting the speed of China's recovery from the epidemic, while the shortage of scrap copper supply has increased demand for refined copper, and spot copper prices are expected to rise
today.
In the copper market, China's imports of non-wrought copper and copper products in October increased by 43.
4% year-on-year, exceeding market expectations
.
Codelco has a contract with a Chinese buyer for an $88 premium for copper trade next year
.
It is estimated that copper prices will continue to challenge the previous high, and success will determine whether the upside of copper prices opens
.
Refer to whether the dollar can break the previous low.
