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Today's Shanghai copper trend is volatile, the main month 2201 contract opened at 69510 yuan / ton, the highest intraday 70130 yuan / ton, the lowest 69290 yuan / ton, settlement 69710 yuan / ton, close 69710 yuan / ton, flat
.
The trading volume of the main 2201 contract of Shanghai copper increased by 5456 lots to 97714 contracts throughout the day, and the position volume 139423 increased by 155 lots
.
During the Asian session, London copper rushed back down, and the latest quotation at 15:01 Beijing time was 9626 US dollars / ton, down 27 US dollars, or 0.
28%.
In terms of the market, today's domestic spot copper prices rose slightly, 1# copper price was reported at 70010 yuan / ton, up 120 yuan, premium 30-90 liter; Guangdong spot 1# copper price was reported at 70110 yuan / ton, up 100 yuan / ton; Yangtze River spot 1# copper 70120 yuan / ton, up 160 yuan, premium 100-liter 180; Shanghai spot 1# copper price was 70,000 yuan / ton, up 180 yuan
.
In the spot market, the willingness of holders to adjust prices is not high, the receiving party only maintains the rigid need to buy, the demand is weak, the transaction is deadlocked, and the overall transaction is average
.
U.
S.
inflation exploded, interest rate hike expectations heated up, and market demand weakened expectations, but the central bank's RRR reduction expectations landed in favor of copper prices, while copper inventories continued to run low, and short-term copper price shocks continued
.
Shanghai copper opened lower today, and the latest opening price of the Shanghai copper 2201 contract was 69680 yuan / ton, down 30 yuan
.
Although the central bank's recent RRR cut is favorable to copper prices, market risk sentiment has been boosted and improved, but the domestic spot premium has fallen and market speculative demand has declined, and the sensitivity to copper price rises is high.
