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Shanghai copper trend is weak, demand also picked up slightly

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai copper trend is weak, the main month 2107 contract opened at 73600 yuan / ton, the highest intraday 73720 yuan / ton, the lowest 71760 yuan / ton, settled 72630 yuan / ton, closed 72160 yuan / ton, down 910 yuan
.
The trading volume of the main 2107 contract of Shanghai copper increased by 14430 lots throughout the day 214013, and the position increased by 8161 to 126737 lots
.

Shanghai copper

During the Asian session, London copper continued to be weak, and the latest quotation at 15:01 Beijing time was 9916.
5 US dollars / ton, down 91.
5 US dollars, or 0.
91%.

In the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 71880 yuan / ton, down 420 yuan, discount 220-discount 160; Guangdong spot 1# copper price was 71900 yuan / ton, down 400 yuan; Yangtze River spot 1# copper 72,000 yuan / ton, down 430 yuan, discount 80-discount 60; Shanghai spot 1# copper price was 71970 yuan / ton, down 505 yuan
.

In the spot market, traders received goods at low prices, downstream consumption was just demand-based, and transactions improved
.
China's copper concentrate imports fell in April, Chile and Peru supply decreased, although demand did not improve significantly, and the current commodity market as a whole cooled
.

After the copper price experienced a sharp decline, yesterday because the US dollar index weakened again, so copper prices gradually showed a stable state, and the fundamental situation changes are relatively limited, the recent TC price has rebounded slightly, but due to the high shipping costs, so the possibility of a large surge in the concentration of imported sources in a short period of time is still not very large, and when the price is lower, demand has also rebounded
slightly.

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