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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper volatility is strong, and the fundamentals lack support

    Shanghai copper volatility is strong, and the fundamentals lack support

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai copper shock is strong, the main month 2103 contract opened at 59060 yuan / ton, the highest intraday 59460 yuan / ton, the lowest 58710 yuan / ton, settlement 59100 yuan / ton, closed 59120 yuan / ton, up 200 yuan
    .
    The main 2103 contract of Shanghai copper traded 134630 contracts throughout the day, an increase of 33321 lots, and the position increased by 536 to 124606 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated strongly, and the latest quotation at 15:00 Beijing time was 8038.
    5 US dollars / ton, up 44.
    5 US dollars, or 0.
    56%.

    In terms of the market, today's domestic spot copper prices remained stable, Yangtze River non-ferrous metal network 1# copper price was reported at 59040 yuan / ton, up 10 yuan, 100-160 liters; Guangdong spot 1# copper price was 59100 yuan / ton, up 40 yuan; Yangtze River spot 1# copper price 59150 yuan / ton, down 20 yuan, premium 220-liter 240; Shanghai spot 1# copper price was 59,040 yuan / ton, up 10 yuan
    .

    In the spot market, there are many sources of circulating goods, the willingness to raise prices is still strong, downstream consumption is weakening, and trading is
    deadlocked.
    Expectations of further large-scale stimulus measures in the United States and a weaker dollar index, although there is a lack of support from fundamentals, weaker domestic consumption in the off-season, and volatile
    copper prices.

    Recently, exchange inventories have fallen further, global explicit inventories are at a relatively low level, while the tight situation of copper concentrate has not been adjusted, and processing fees continue to be low; China's economy is expected to continue to grow steadily this year, and the rapid development of the new energy automobile industry will support copper consumption, and spot aluminum prices are expected to rise
    slightly.

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