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Shanghai copper volatility weakened spot prices are expected to rise or fall limited

 Last Update: 2022-12-22
 Source: Internet
 Author: User

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Today's Shanghai copper shock weakened, the main month 2107 contract opened at 73700 yuan / ton, the highest intraday 74750 yuan / ton, the lowest 73520 yuan / ton, settled 73970 yuan / ton, closed 73680 yuan / ton, down 310 yuan
.
The trading volume of the main 2107 contract of Shanghai copper increased by 30,747 lots 155274 the whole day, and the position decreased by 1121 to 142144 lots
.

Shanghai copper

During the Asian session, London copper rushed back down, and the latest quotation at 15:01 Beijing time was 10230 US dollars / ton, down 9 US dollars, or 0.
09%.

In terms of the market, today's domestic spot copper prices are stable, 1# copper prices are 73690 yuan / ton, flat, 20-100 liters; Guangdong spot 1# copper price was 73570 yuan / ton, flat; Yangtze River spot 1# copper 73750 yuan / ton, flat, premium 90-liter 110; Shanghai spot 1# copper price was 73640 yuan / ton, down 135 yuan
.

In the spot market, traders are mainly circulating, downstream on-demand procurement, and the transaction is general
.
Political risks in Peru's mining industry have intensified, but the threat of supply disruptions in Chile has decreased, the Camoa-Kakula copper mine in the Democratic Republic of the Congo has begun to produce, and tight supply is expected to ease, and copper prices will remain volatile
in the short term.

In terms of news, BHP Billiton said that despite the ongoing strike, the operation of the two copper mines in Chile, Escondida and Spence, remained normal as it called in replacement workers to maintain mine operations; Yangshan copper premiums are at record lows, China's metal import demand may be weak, and spot copper prices are expected to rise or fall limitedly
.

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