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Shanghai copper weak pullback market sentiment is not good

 Last Update: 2022-12-01
 Source: Internet
 Author: User

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1.
Summary of copper prices in major domestic cities

market	name of article	Material	Price range		Change	remark
Guangdong spot	1# Copper	1 #	37680-37880	Yuan/ton	-100	Tax included
Shanghai spot	1# Copper	1 #	37300-37800	Yuan/ton	-230	Tax included
Shanghai spot	Flat water copper		37300-37760	Yuan/ton	-230	Tax included
Shanghai spot	Liters of copper		37330-37800	Yuan/ton	-225	Tax included
Shanghai	1# Copper	1 #	37650-37750	Yuan/ton	-100	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	35100-35300	Yuan/ton	-100	Tax not included
Jinan spot	1# Copper	1 #	37800-37800	Yuan/ton	-50	Tax included
Shenyang spot	1# Copper	1 #	37900-37900	Yuan/ton	-50	Tax included
Beijing spot	1# Copper	1 #	37850-37850	Yuan/ton	-50	Tax included
Tianjin spot	1# Copper	1 #	37850-37850	Yuan/ton	-50	Tax included
Wuxi spot	1# Copper	1 #	37850-37850	Yuan/ton	-50	Tax included
Xi'an spot	1# Copper	1 #	37900-37900	Yuan/ton	-50	Tax included
Chongqing spot	1# Copper	1 #	37900-37900	Yuan/ton	-50	Tax included
Guangzhou spot	1# Copper	1 #	38000-38000	Yuan/ton	-100	Tax included
Wuhan spot	1# Copper	1 #	37850-37850	Yuan/ton	-50	Tax included
Kunming spot	1# Copper	1 #	37950-37950	Yuan/ton	-50	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 37680-37880 Yuan/ton -100 Tax included Shanghai spot 1# Copper 1# 37300-37800 Yuan/ton -230 Tax included Shanghai spot Flat water copper 37300-37760 Yuan/ton -230 Tax included Shanghai spot Liters of copper 37330-37800 Yuan/ton -225 Tax included Shanghai 1# Copper 1# 37650-37750 Yuan/ton -100 Tax included Foshan spot 1# Electrolytic copper plate 1# 35100-35300 Yuan/ton -100 Tax not included Jinan spot 1# Copper 1# 37800-37800 Yuan/ton -50 Tax included Shenyang spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Beijing spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Tianjin spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Wuxi spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Xi'an spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Chongqing spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Guangzhou spot 1# Copper 1# 38000-38000 Yuan/ton -100 Tax included Wuhan spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Kunming spot 1# Copper 1# 37950-37950 Yuan/ton -50 Tax included market name of article Material Price range Change remark Market market Product name, product name Material material Price RangePrice Range Ups and downs Remarks Note: Remarks Guangdong spot 1# Copper 1# 37680-37880 Yuan/ton -100 Tax included Guangdong spot 1# Copper 1# 37680-37880 Yuan/ton -100 Tax included Shanghai spot 1# Copper 1# 37300-37800 Yuan/ton -230 Tax included Shanghai spot 1# Copper 1# 37300-37800 Yuan/ton -230 Tax included Shanghai spot Flat water copper 37300-37760 Yuan/ton -230 Tax included Shanghai spot Flat water copper 37300-37760 Yuan/ton -230 Tax included Shanghai spot Liters of copper 37330-37800 Yuan/ton -225 Tax included Shanghai spot Liters of copper 37330-37800 Yuan/ton -225 Tax included Shanghai 1# Copper 1# 37650-37750 Yuan/ton -100 Tax included Shanghai 1# Copper 1# 37650-37750 Yuan/ton -100 Tax included Foshan spot 1# Electrolytic copper plate 1# 35100-35300 Yuan/ton -100 Tax not included Foshan spot 1# Electrolytic copper plate 1# 35100-35300 Yuan/ton -100 Tax not included Jinan spot 1# Copper 1# 37800-37800 Yuan/ton -50 Tax included Jinan spot 1# Copper 1# 37800-37800 Yuan/ton -50 Tax included Shenyang spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Shenyang spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Beijing spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Beijing spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Tianjin spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Tianjin spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Wuxi spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Wuxi spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Xi'an spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Xi'an spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Chongqing spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Chongqing spot 1# Copper 1# 37900-37900 Yuan/ton -50 Tax included Guangzhou spot 1# Copper 1# 38000-38000 Yuan/ton -100 Tax included Guangzhou spot 1# Copper 1# 38000-38000 Yuan/ton -100 Tax included Wuhan spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Wuhan spot 1# Copper 1# 37850-37850 Yuan/ton -50 Tax included Kunming spot 1# Copper 1# 37950-37950 Yuan/ton -50 Tax included Kunming spot 1# Copper 1# 37950-37950 Yuan/ton -50 Tax included

2.
Market review

Last night, the Shanghai copper 1606 contract rebounded and fell, the price fell to 38180 yuan, the price fell this morning, down to 37490 yuan to stabilize and recover, and closed
at 37620 yuan at midday.
The opening price of the current month's 1604 contract was 38140 yuan / ton, and as of 14:50 p.
m.
, the latest price was 37910 yuan / ton, down 540 yuan; The lowest price within the day was 37800 yuan / ton, and the highest price was 38350 yuan / ton
.
The main opening price of Shanghai copper was 38150 yuan / ton, as of 14:50 pm, the latest price was 37700 yuan / ton, down 620 yuan; The lowest price during the day was 37490 yuan / ton, and the highest price was 38180 yuan / ton
.

Shanghai copper

Externally, London copper fell for the second day in a row today, further falling from last week's five-week high, as the market doubted whether demand from China, a major copper consumer, could be sustained, and worried about rising inventories in Asia
.
Three-month copper on the London Metal Exchange (LME) fell 1% to $
4,948 a tonne.
The June contract, the main Shanghai copper contract, fell 1.
8% to 37,620 yuan
a tonne.
Copper rose nearly 5 percent last week, briefly hitting a near five-week high of $5,091 as investors returned to the market
after seeing signs of stabilisation in China's industrial production, loans and real estate sectors.
Copper may rise to $5,032 a tonne in the near future, as the market has found support
around $4,980 a tonne.

3.
Overview of the domestic copper market

On the macro front, data from the U.
S.
Department of Commerce Census Bureau data showed that new home sales in the United States in March were lower than expected, market sentiment was dragged down, international metals were generally under pressure, and the outer plate was consolidated at a low level between copper plates, and ended in the end of the day
.
In addition, on Monday, China's Shanghai and Shenzhen markets both opened low, the Shanghai index plunged more than 1% after the open, and at the afternoon open, the three major stock indexes narrowed their declines, and the Shanghai index rebounded and wanted to turn red, but the market sentiment was not good, the upward attack was weak, and finally it was fruitless, inhibiting copper prices from continuing to rise
.

Today's Shanghai electrolytic copper spot report discount 200 yuan / ton - discount 130 yuan / ton, flat water copper transaction price 37300 yuan / ton - 37760 yuan / ton, premium copper transaction price 37330 yuan / ton - 37800 yuan / ton
.
Today's copper is strong outside and weak inside, but compared with copper futures, spot copper prices show strong resistance to decline, and the decline is not as large as expected, due to the continued shortage of supply support
.
At present, copper manufacturers and traders mainly purchase on demand, and some merchants choose to be cautious and wait-and-see, worried that copper prices will be further adjusted, and the overall trading volume of the market has declined
.

4.
Copper closing situation

Today's copper 1606 contract opened slightly higher, then crude oil retreated, black series changed, Shanghai copper directly fell to the lowest 37490 yuan / ton, and then narrow consolidation, the end of the long and short closed the market, copper prices rebounded slightly, 1606 contract finally closed 37700 yuan / ton, down 620 yuan / ton, down 1.
62%.

Shanghai copper weak pullback, currently below the 5-day moving average, downward or seeking support
around 37300 yuan / ton.

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