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Today's Shanghai copper running at a high level, the main monthly 2205 contract opened at 73500 yuan / ton, the highest intraday 73950 yuan / ton, the lowest 73380 yuan / ton, settled 73150 yuan / ton, closed 73580 yuan / ton, up 430 yuan, or 0.
59%.
The main 2205 contract of Shanghai copper increased by 12599 lots to 65180 contracts throughout the day, and the position volume of 153880 contracts increased by 7617 lots
.
During the Asian session, London copper fluctuated sharply, and the latest quotation at 15:01 Beijing time was 10,420 US dollars / ton, down 5 US dollars, or 0.
05%.
On the macro front, European natural gas prices soared, and concerns about the contraction of nonferrous supplies in Europe intensified
.
From the perspective of domestic fundamentals, domestic copper warehouse receipt inventories continue to decrease, and spot premiums are high, which will continue to support the recovery of copper prices
.
In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 73970 yuan / ton, up 450 yuan, premium 230-290; Guangdong spot 1# copper price was reported at 73760 yuan / ton, up 450; Yangtze River spot 1# copper 73990 yuan / ton, up 450 yuan, premium 260-liter 300; Shanghai spot 1# copper price was 73930 yuan / ton, up 500 yuan
.
Holders continued to actively adjust prices and shipments, receivers reduced prices and purchased on demand, and some traders left the market to wait and see, and transaction activity appeared cold
.
As Russia's countermeasures intensified concerns about the contraction of nonferrous supply in Europe, coupled with the larger-than-expected degrading of domestic inventories, spot premiums are still at a high level, and the arrival volume has decreased under the epidemic, which will continue to support the recovery of copper prices
.
Zambia's Mopani Copper Mine reported its second fatal accident
at the mine in three days.
The mine subsequently suspended operations
.
At present, due to the outbreak of the epidemic in China, transportation is restricted, and some listed companies have issued announcements to reduce production and stop production, superimposed on the domestic copper inventory destocking beyond expectations to support copper prices, of which Shanghai social inventory continued to decline to 170,000 tons, and macro expectations picked up, the market rose, and copper is expected to rise
.
