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The expected recovery of domestic and foreign demand supports the further upward movement of Shanghai copper prices

 Last Update: 2022-12-21
 Source: Internet
 Author: User

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Today's Shanghai copper shock operation, the main month 2104 contract opened at 67550 yuan / ton, the highest intraday 68880 yuan / ton, the lowest 66560 yuan / ton, settled 67690 yuan / ton, closed 67910 yuan / ton, up 360 yuan
.
The trading volume of the main 2104 contract in Shanghai copper decreased by 12,845 lots 454424 lots throughout the day, and the position decreased by 520 to 153444 lots
.

Shanghai copper

During the Asian session, London copper rushed back down, and the latest quotation at 15:00 Beijing time was 9205 US dollars / ton, down 45 US dollars, or 0.
49%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was reported at 68220 yuan / ton, up 810 yuan, discount 110-discount 50; Guangdong spot 1# copper price was 68170 yuan / ton, up 850 yuan; Yangtze River spot 1# copper 68250 yuan / ton, up 760 yuan, discount 70-post 50; Shanghai spot 1# copper price was 68075 yuan / ton, up 475 yuan
.

In the spot market, holders actively shipped, but high prices suppressed consumption and poor transactions
.
Inventories are generally at a low level, the outlook for economic recovery demand is better, copper prices have a pullback demand after refreshing a stage high, and analysts expect the rally to slow down
.

Copper mine supply remained tight, copper ore processing fees TC continued to decrease, and smelting costs continued to be high; The global epidemic situation has improved, the global economic marginal improvement, and the expected recovery of domestic and foreign demand have supported further upward prices, and spot copper prices are expected to continue to rise
.

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