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Today's Shanghai copper volatility lower, the main month 2201 contract opened at 69260 yuan / ton, the highest intraday 69350 yuan / ton, the lowest 68380 yuan / ton, settled 69150 yuan / ton, closed 68500 yuan / ton, down 650 yuan, down 0.
94%.
The trading volume of the main 2201 contract of Shanghai copper was 71980 lots, a decrease of 20916 lots, and the position volume of 132955 lots increased by 26184 lots
.
During the Asian session, London copper really fell, and the latest quotation at 15:01 Beijing time was 9369 US dollars / ton, down 77 US dollars, or 0.
81%.
Today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 69250 yuan / ton, down 360 yuan, premium 270-330; Guangdong spot 1# copper price was reported at 69040 yuan / ton, down 410 yuan / ton; Yangtze River spot 1# copper 69280 yuan / ton, down 310 yuan, premium 300-liter 340; Shanghai spot 1# copper price was 69200 yuan / ton, down 345 yuan
.
In the spot market, the holders maintain a strong price for shipments, the downstream just needs to consume, leave the market and wait and see, the trading is relatively deadlocked, and the overall trading volume is average
.
Recently, domestic and foreign copper inventories have entered seasonal accumulation, copper prices have limited upside, coupled with insufficient demand in the off-season market, continuing to show a weak state, short-term copper prices still maintain range shocks
.
Industry News:
1.
Foreign media news on December 17: The Peruvian government has sent a mediation team to the Las Bambas copper mine to try to restart some basic operations, after the copper mine was forced to stop operations
due to disturbances in the local community.
2.
On Sunday (December 19), local time, leftist Gabriel Boric was elected the new president
of Chile.
And the newly elected President Boric has emphasized ecology and environmental protection during the campaign, advocating higher taxes and mining royalties, which means that miners' production costs will increase significantly, and if copper prices fall, many mining companies may be forced to close
at a loss.
Shanghai copper opened low today, and the latest opening price of the Shanghai copper 2201 contract was 68910 yuan / ton, down 240 yuan
.
The overall disturbance of overseas mine supply is limited, the current smelting is carried out in accordance with overseas mine TC, refinery income is not high, overseas mine TC is difficult to go down, domestic economic data continues to fall, and the market off-season rebound is insufficient, the sensitivity to copper price rises is high, still based on bargain hunting, copper is expected to fall
slightly.
