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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper trend is weak, short-term volatility is the mainstay

    Shanghai copper trend is weak, short-term volatility is the mainstay

    • Last Update: 2022-12-21
    • Source: Internet
    • Author: User
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    Today's Shanghai copper trend is weak, the main month 2105 contract opened at 66980 yuan / ton, the highest intraday 67390 yuan / ton, the lowest 65510 yuan / ton, settlement 66650 yuan / ton, closed 66020 yuan / ton, down 1390 yuan
    .
    The trading volume of the main 2105 contract of Shanghai copper increased by 70836 lots throughout the day 217722, and the position decreased by 1390 to 148049 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated downward, and the latest quotation at 15:00 Beijing time was 8900.
    5 US dollars / ton, down 97.
    5 US dollars, or 1.
    08%.

    In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 66590 yuan / ton, down 540 yuan, discount 120-discount 60; Guangdong spot 1# copper price was 66580 yuan / ton, down 530 yuan; Yangtze River spot 1# copper 66660 yuan / ton, down 520 yuan, discount 30-discount 10; Shanghai spot 1# copper price was 66600 yuan / ton, down 510 yuan
    .

    In the spot market, the willingness to receive goods is general, downstream consumption continues to be weak, and traders are mainly
    trading.
    The rise in U.
    S.
    bond yields pushed up safe-haven, but the disturbance of overseas copper mines continued, the downstream peak season expectation remained unchanged, and short-term copper prices were mainly volatile
    .

    On the news front, copper concentrate processing fees fell to a decade low, with miners and traders reaching prices of less than $20 a tonne and continued low TC/RCs squeezing smelter profits
    .
    However, the current downstream consumption has not improved significantly, the disturbance at the mine end has weakened, and the short-term continuation of the volatile market, waiting for the peak consumption season, spot copper prices are expected to fall
    .

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