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Shanghai copper trend is weak, the future upward momentum may weaken

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

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Today's Shanghai copper trend is weak, the main month 2009 contract opened at 50340 yuan / ton, the highest intraday 50690 yuan / ton, the lowest 49500 yuan / ton, settled 50060 yuan / ton, closed 49870 yuan / ton, down 880 yuan
.

Shanghai copper

During the Asian session, London copper ran low, and the latest quotation at 15:01 Beijing time was 6310 US dollars / ton, down 95 US dollars, or 1.
48%.

In the spot market, the premium remained firm, downstream procurement improved, and the overall transaction was average
.
The uncertainty of US fiscal stimulus measures has increased, tensions between China and the United States are also under pressure, and the current lack of positive support has put copper prices under pressure
.

Today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 50,000 yuan / ton, down 790 yuan, premium 40-liter 100; Guangdong spot 1# copper price was reported at 50,000 yuan / ton, down 790 yuan; Yangtze River spot 1# copper price 50110 yuan / ton, down 780 yuan, premium 160-liter 180; Shanghai spot 1# copper price was 50,050 yuan / ton, down 750 yuan
.

Although the impact of the epidemic on copper mines is not completely over, the marginal improvement of the epidemic in Chile, the largest supplier, may ease the tight situation at the mining end, so the momentum of future copper price rises is likely to
weaken.

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