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Shanghai copper trend is strong, overall transaction improved

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Today's Shanghai copper trend is strong, the main month 2010 contract opened at 51500 yuan / ton, the highest intraday 52350 yuan / ton, the lowest 51330 yuan / ton, settled 51990 yuan / ton, closed 52320 yuan / ton, up 830 yuan
.
The trading volume of the main 2010 contract of Shanghai copper increased by 18,554 lots throughout the 121266 day, and the position decreased by 7,437 to 92,983 lots
.

Shanghai copper

During the Asian session, London copper fluctuated to the upside, and the latest quotation at 15:01 Beijing time was 6841 US dollars / ton, up 46 US dollars, or 0.
68%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 52180 yuan / ton, up 750 yuan, premium 0-liter 60; Guangdong spot 1# copper price reported 52120 yuan / ton, up 710 yuan; Yangtze River spot 1# copper price 52310 yuan / ton, up 750 yuan, premium 140-liter 160; Shanghai spot 1# copper price was 52200 yuan / ton, up 740 yuan
.

In the spot market, the market inquiry is active, traders are actively trading, and the overall transaction is improved
.
The market expects China's stimulus measures to boost demand, global explicit inventories are at low levels, and there is support
below copper prices.

Overall, the recovery of consumption in September is not obvious, but copper prices have maintained a narrow range of 51500-52000, and the fine waste price spread has continued to narrow, although it is still not enough to trigger refined copper to replace copper scrap consumption, but scrap copper stocks have gradually tightened, considering that imported copper scrap will continue to tighten after September, the expectation of a gradual tightening of the copper market in the future remains unchanged
.

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