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Today's Shanghai copper volatility weakened, the main month 2109 contract opened at 69520 yuan / ton, the highest intraday 69860 yuan / ton, the lowest 69220 yuan / ton, settled 69980 yuan / ton, closed 69220 yuan / ton, down 760 yuan
.
The trading volume of the main 2109 contract of Shanghai copper increased by 3283 lots 117226 throughout the day, and the 120705 of positions decreased by 1965 lots
.
During the Asian session, London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 9471 US dollars / ton, up 5 US dollars, or 0.
05%.
In terms of the market, today's domestic spot copper prices fell, Yangtze River nonferrous metal network 1# copper price was reported at 69740 yuan / ton, down 660 yuan, premium 150-liter 210; Guangdong spot 1# copper price was 69610 yuan / ton, down 580 yuan; Yangtze River spot 1# copper 69780 yuan / ton, down 700 yuan, premium 210-liter 230; Shanghai spot 1# copper price was 69670 yuan / ton, down 590 yuan
.
In the spot market, the circulation supply is relatively abundant, the holders actively ship and cash, the receivers are generally active, the downstream still maintains just need to purchase, and the transaction activity is relatively cold
.
The spread of the epidemic at home and abroad, the increase in worries about economic recovery, coupled with the pressure of domestic policies to ensure supply and price stability, have aggravated market worries, although the supply side of the copper market has been disturbed, but copper prices are still in a downward trend
.
The spread of the epidemic has suppressed the demand outlook, making the market more pessimistic, with Chilean large copper miner Codelco increasing copper production in June, up 14.
9% year-on-year to 151,600 tonnes, and copper prices are expected to fall
as tight domestic spot supplies ease.
