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Shanghai copper trend is weak, market consumption enthusiasm is still suppressed

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

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metal prices today

lng spot price

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Today's Shanghai copper trend is weak, refreshing the intraday low for more than a month, the main monthly 2107 contract opened at 71500 yuan / ton, the highest intraday 71750 yuan / ton, the lowest 70470 yuan / ton, settled 71120 yuan / ton, closed 70910 yuan / ton, down 2150 yuan
.
The trading volume of the main 2107 contract of Shanghai copper increased by 82193 lots throughout the day 241633 lots, and the position increased by 990 to 138875 lots
.

Shanghai copper

During the Asian session, London copper rushed back down, and the latest quotation at 15:01 Beijing time was 9803 US dollars / ton, down 15.
5 US dollars, or 0.
16%.

In terms of the market, the domestic spot copper price fell sharply today, 1# copper price was 71090 yuan / ton, down 1930 yuan, 110-170 liters; Guangdong spot 1# copper price was reported at 70990 yuan / ton, down 1950 yuan; Yangtze River spot 1# copper 71170 yuan / ton, down 1970 yuan, premium 180-liter 200; Shanghai spot 1# copper price was 71030 yuan / ton, down 1880 yuan
.

In the spot market, the inquiry atmosphere is positive, the downstream purchase is moderate, and the transaction has improved
.
Strong U.
S.
economic data heightened fears of Fed policy tightening, the dollar index trended strongly, the domestic market consumption season was sluggish, and copper prices came under pressure
.

The peak season of the domestic market is not strong, Yangshan copper import premium fell to the lowest since 2012, the demand for overseas metals is worried, although copper prices have recently fallen to a certain extent, but the market consumption enthusiasm is still suppressed, lack of support, spot copper prices are expected to fall
sharply.

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