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The dollar returned to weakness and Shanghai copper ran high

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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1 2 block

dollar spot

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Today's Shanghai copper running high, the main month 2009 contract opened at 50310 yuan / ton, the highest intraday 50920 yuan / ton, the lowest 50020 yuan / ton, settled 50480 yuan / ton, closed 50410 yuan / ton, up 350 yuan
.

Shanghai copper

During the Asian session, London copper fluctuated downward, and the latest quotation at 15:01 Beijing time was 6383.
5 US dollars / ton, down 51.
5 US dollars, or 0.
80%.

In the spot market, the price difference between premium copper and flat water copper narrowed, and downstream procurement was on-demand, and the overall transaction was cautious
.
Seasonal weakness in Chinese demand, uncertainty about the US stimulus package, and Chile's national copper company Codelco expects a rapid increase in ore processing capacity at its Chuquicamata underground copper mining project, and the current upward movement in copper prices is insufficient
.

Today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 50470 yuan / ton, up 470 yuan, premium 30-liter 90; Guangdong spot 1# copper price was reported at 50470 yuan / ton, up 470 yuan; Yangtze River spot 1# copper price 50580 yuan / ton, up 470 yuan, premium 150-liter 170; Shanghai spot 1# copper price was 50540 yuan / ton, up 490 yuan
.

On the news, the US stimulus impasse was not broken, and Pelosi rejected Mnuchin's proposal to restart negotiations, and the dollar plummeted 0.
2%
after the news was announced.
Overall, market optimism improved, the dollar returned to weakness, and copper prices rebounded
.

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