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Today's Shanghai copper weak operation, the main month 2206 contract opened at 72380 yuan / ton, the highest intraday 72560 yuan / ton, the lowest 71820 yuan / ton, settled 73050 yuan / ton, closed 72050 yuan / ton, down 1000 yuan, down 1.
37%.
The trading volume of the main 2206 contract of Shanghai copper increased by 47715 lots 109319 lots, and the position volume of 155058 increased by 4534 lots
.
During the Asian session, London copper fluctuated sharply, and the latest quotation at 15:01 Beijing time was 9460 US dollars / ton, up 1 US dollar, or 0.
01%.
In terms of the market, today's domestic spot copper prices fell, Yangtze River spot 1# copper 72940 yuan / ton, down 910 yuan, premium 340-380; Yangtze River non-ferrous metal net 1# copper price reported 72900 yuan / ton, down 910 yuan, premium 290-350; Guangdong spot 1# copper price was reported at 72650 yuan / ton, down 850 yuan, discount 60-liter 140; Shanghai spot 1# copper price was 72845 yuan / ton, down 935 yuan
.
In the spot market, spot circulation is relatively abundant, merchants take the initiative to adjust prices and shipments, receivers actively inquire, and the overall trading volume is better than yesterday
.
The global stock market fell sharply, the market risk appetite cooled rapidly, Shanghai copper weakened with the pressure on the external market, the domestic economic data performed poorly, and the epidemic rebound continued to suppress spot demand, the market sentiment was pessimistic, and the short-term trend of copper prices was relatively weak
.
In terms of news, the International Copper Study Group (ICSG) said on Tuesday that it expects the global copper market to be oversupplied by 142,000 tons in 2022 and 352,000 tons in 2023
.
ICSG said the global refined copper market was short of 439,000 tonnes in 2021
.
Weak global economic data dragged down metal demand, among which Germany, Europe's largest economy, fell more than expected, manufacturing activity contracted in April in China, the world's largest metal consumer, and manufacturing activity in the world's largest economy, the United States, also slowed in April, casting a shadow over the outlook for base metal demand, superimposed on the domestic epidemic is still continuing to spread in many places, and continues to shroud the market above to suppress the market bulls' motivation, the epidemic has a significant impact on the economy, and copper is expected to fall
.
