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Shanghai copper weak shock intraday market once declined

 Last Update: 2022-12-02
 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 #	35200-35400	Yuan/ton	-150	Tax included
Shanghai spot	1# Copper	1 #	35280-35420	Yuan/ton	-90	Tax included
Shanghai spot	Flat water copper		35280-35380	Yuan/ton	-95	Tax included
Shanghai spot	Liters of copper		35300-35420	Yuan/ton	-90	Tax included
Shanghai	1# Copper	1 #	35250-35350	Yuan/ton	-150	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	32900-33100	Yuan/ton	-100	Tax not included
Jinan spot	1# Copper	1 #	35400-35400	Yuan/ton	-150	Tax included
Shenyang spot	1# Copper	1 #	35500-35500	Yuan/ton	-150	Tax included
Beijing spot	1# Copper	1 #	35450-35450	Yuan/ton	-150	Tax included
Tianjin spot	1# Copper	1 #	35450-35450	Yuan/ton	-150	Tax included
Wuxi spot	1# Copper	1 #	35450-35450	Yuan/ton	-150	Tax included
Xi'an spot	1# Copper	1 #	35500-35500	Yuan/ton	-150	Tax included
Chongqing spot	1# Copper	1 #	35500-35500	Yuan/ton	-150	Tax included
Guangzhou spot	1# Copper	1 #	35470-35470	Yuan/ton	-150	Tax included
Wuhan spot	1# Copper	1 #	35450-35450	Yuan/ton	-150	Tax included
Kunming spot	1# Copper	1 #	35550-35550	Yuan/ton	-150	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 35200-35400 Yuan/ton -150 Tax included Shanghai spot 1# Copper 1# 35280-35420 Yuan/ton -90 Tax included Shanghai spot Flat water copper 35280-35380 Yuan/ton -95 Tax included Shanghai spot Liters of copper 35300-35420 Yuan/ton -90 Tax included Shanghai 1# Copper 1# 35250-35350 Yuan/ton -150 Tax included Foshan spot 1# Electrolytic copper plate 1# 32900-33100 Yuan/ton -100 Tax not included Jinan spot 1# Copper 1# 35400-35400 Yuan/ton -150 Tax included Shenyang spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Beijing spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Tianjin spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Wuxi spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Xi'an spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Chongqing spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Guangzhou spot 1# Copper 1# 35470-35470 Yuan/ton -150 Tax included Wuhan spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Kunming spot 1# Copper 1# 35550-35550 Yuan/ton -150 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# 35200-35400 Yuan/ton -150 Tax included Guangdong spot 1# Copper 1# 35200-35400 Yuan/ton -150 Tax included Shanghai spot 1# Copper 1# 35280-35420 Yuan/ton -90 Tax included Shanghai spot 1# Copper 1# 35280-35420 Yuan/ton -90 Tax included Shanghai spot Flat water copper 35280-35380 Yuan/ton -95 Tax included Shanghai spot Flat water copper 35280-35380 Yuan/ton -95 Tax included Shanghai spot Liters of copper 35300-35420 Yuan/ton -90 Tax included Shanghai spot Liters of copper 35300-35420 Yuan/ton -90 Tax included Shanghai 1# Copper 1# 35250-35350 Yuan/ton -150 Tax included Shanghai 1# Copper 1# 35250-35350 Yuan/ton -150 Tax included Foshan spot 1# Electrolytic copper plate 1# 32900-33100 Yuan/ton -100 Tax not included Foshan spot 1# Electrolytic copper plate 1# 32900-33100 Yuan/ton -100 Tax not included Jinan spot 1# Copper 1# 35400-35400 Yuan/ton -150 Tax included Jinan spot 1# Copper 1# 35400-35400 Yuan/ton -150 Tax included Shenyang spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Shenyang spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Beijing spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Beijing spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Tianjin spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Tianjin spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Wuxi spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Wuxi spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Xi'an spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Xi'an spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Chongqing spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Chongqing spot 1# Copper 1# 35500-35500 Yuan/ton -150 Tax included Guangzhou spot 1# Copper 1# 35470-35470 Yuan/ton -150 Tax included Guangzhou spot 1# Copper 1# 35470-35470 Yuan/ton -150 Tax included Wuhan spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Wuhan spot 1# Copper 1# 35450-35450 Yuan/ton -150 Tax included Kunming spot 1# Copper 1# 35550-35550 Yuan/ton -150 Tax included Kunming spot 1# Copper 1# 35550-35550 Yuan/ton -150 Tax included

2.
Market review

Today's Shanghai copper weak shock, intraday market once declined, and hit a new recent low, indicating that the upper selling pressure is heavier
.
The opening price of the current month's 1705 contract was 35550 yuan / ton, and as of 15:00 p.
m.
, the latest price was 35630 yuan / ton, down 60 yuan; The lowest price within the day is 35200 yuan / ton, and the highest price is 35780 yuan / ton
.
The main opening price of Shanghai copper was 35160 yuan / ton, as of 15:00 pm, the latest price was 35310 yuan / ton, down 50 yuan; The lowest price within the day was 34820 yuan / ton, and the highest price was 35440 yuan / ton
.

Shanghai copper

In the external market, London copper recovered after dipping last night, closing
at $4596.
London copper could decline for a third straight week this week as better U.
S.
economic data boosted the likelihood of a June rate hike, prompting a stronger dollar to hit demand for commodities such as copper and aluminum, as dollar-denominated commodities are more expensive
for holders of other currencies.
However, China's property market showed signs of improvement, providing some support
to copper prices.
Three-month copper on the London Metal Exchange (LME) was trading at $4,602.
50 a tonne, down 0.
7% on the previous day and hitting an intraday low of $
4,540 since Feb.
15.
Copper prices have fallen 9% so far in May, the biggest monthly decline in six months, erasing the 4% monthly gain
.

3.
Overview of the domestic copper market

On the macro front, the recent retreat from a 14-month high in U.
S.
jobless claims is the latest sign of accelerated growth in the second quarter, possibly strong enough to support the Fed's interest rate
hike in June.
In addition, the minutes of the Fed's April meeting showed that if future data show that the US economy is improving, the Fed may raise interest rates at the June meeting, the hawkish content reversed the previous trend of the market weakening the Fed's interest rate hike this year, the June interest rate hike expectations heated up to boost the dollar index continued to strengthen, copper prices continued to come under pressure
.

In terms of the market, today's Shanghai electrolytic copper spot reported a premium of 30 yuan / ton - 80 yuan / ton, flat water copper trading price of 35280 yuan / ton - 35380 yuan / ton, and a copper trading price of 35300 yuan / ton - 35420 yuan / ton
.
Shanghai copper oscillated
in a narrow range.
Morning holders continued to rise in quotations, but with the inflow of some deliveries, the supply increased and the number of brands increased
.
In the second quarter of the morning, holders began to increase shipments, but because traders still need to do inventory, so that supply and demand are deadlocked, low-end flat water copper took the lead in reducing prices for cash, and the premium fell faster than good copper
.
Overall, intraday trading is lighter than yesterday, and no one cares
.

4.
Copper closing situation

Today, Shanghai copper fell back after the opening, after which crude oil rose, Shanghai copper rose smoothly, the highest 1607 contract was 35440 yuan / ton, and the end fell slightly, finally closing at 35320 yuan / ton, down 40 yuan / ton, down 0.
11%.

The total position of Shanghai copper increased by 13,876 lots to 770,000 lots, with a total transaction volume of 660,000 lots, of which 18,734 contracts were increased by 1,608 contracts, and long and short positions in far month contracts increased significantly
.
Today's Shanghai copper main force reduced its position to the upside, tested the low and rebounded, the overall atmosphere of the market has improved, and the evening focus on the pressure
around the 5th.

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