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Shanghai copper weak operation short-term downstream consumption is suppressed

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

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copper period

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Today's Shanghai copper weak operation, the main month 2109 contract opened at 68540 yuan / ton, the highest intraday 69770 yuan / ton, the lowest 68500 yuan / ton, settlement 69700 yuan / ton, closed 69550 yuan / ton, down 150 yuan
.
The trading volume of the main 2109 contract of Shanghai copper decreased by 13,766 lots 105758 the whole day, and the position increased by 4,318 lots 121441
.

Shanghai copper

During the Asian session, London copper was strongly volatile, and the latest quotation at 15:01 Beijing time was 9441 US dollars / ton, up 76 US dollars, or 0.
81%.

In terms of the market, today's domestic spot copper prices fell, 1# copper price was 69510 yuan / ton, down 130 yuan, premium 140-200; Guangdong spot 1# copper price was 69420 yuan / ton, down 130 yuan; Yangtze River spot 1# copper 69600 yuan / ton, down 130 yuan, premium 240-liter 260; Shanghai spot 1# copper price was 69550 yuan / ton, down 55 yuan
.

In the spot market, the holder actively ships, the receiver just needs to purchase, the trading atmosphere is general, and the overall transaction is average
.
South American copper mine strike concerns intensified, as well as the spread of the epidemic and the expansion of power cuts, but downstream copper consumption was significantly suppressed, and short-term copper prices maintained a volatile trend
.

In terms of news, the intensification of the epidemic, the expansion of the scope of power cuts in southwest China and the impact of heavy rains in Henan on the production of refined copper, coupled with the start of strikes at Chile's Caserones copper mine, copper mine supply disturbances increased, and short-term downstream consumption was suppressed, copper inventories increased, the last period last week for the first time increased by more than 5,000 tons to 99,486 tons, copper prices are expected to fall
.

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