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Shanghai copper trend is strong, the overall trading volume of the market turned weak

 Last Update: 2022-12-18
 Source: Internet
 Author: User

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On Friday, Shanghai copper trend is strong, the main month 2007 contract opened at 46970 yuan / ton, the highest intraday 47800 yuan / ton, the lowest 46890 yuan / ton, settled 47320 yuan / ton, closed 47780 yuan / ton, up 880 yuan
.

Shanghai copper

In terms of external trading, during the Asian session, London copper fluctuated upward, and the latest quotation at 15:00 Beijing time was 5870 US dollars / ton, up 68 US dollars, or 1.
17%.

In the market, the price of domestic spot copper rose on Friday, and the price of Yangtze River nonferrous metal network 1# copper was 47490 yuan / ton, up 390 yuan, and the premium was 190-250; Guangdong spot 1# copper price was reported at 47610 yuan / ton, up 440 yuan; Yangtze River spot 1# copper price 47530 yuan / ton, up 380 yuan, premium 250-liter 270; Shanghai spot 1# copper price was 47480 yuan / ton, up 390 yuan
.

In the spot market, downstream fears heights and cautiously waits and sees, trader activity declines, and overall transactions turn weak
.
More economies are lifting lockdowns, economic data has been repaired in some countries, expectations of higher demand and supply disturbances at the mine end have supported copper prices
.

At present, processing fees are still low, the profit level of smelters is still not high, and production is gradually returning to normal, but it is expected that the annual output will increase slightly by about 2%; Disruptions to supply from overseas mines continue, with Zambian mining revenue falling 30% in the three months to April, with the impact likely to last for at least 12 months
.

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