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The macro atmosphere is warm, and Shanghai copper is running at a high level

 Last Update: 2022-12-20
 Source: Internet
 Author: User

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Today's Shanghai copper is running at a high level, the main monthly 2101 contract opened at 54880 yuan / ton, the highest intraday 55100 yuan / ton, the lowest 54410 yuan / ton, the settlement 54730 yuan / ton, the close 54550 yuan / ton, up 360 yuan
.
The trading volume of the main 2101 contract of Shanghai copper decreased by 14029 lots 171496 lots, and the position decreased by 4611 to 157016 lots
.

Shanghai copper

During the Asian session, London copper opened high and low, and the latest quotation at 15:00 Beijing time was 7281 US dollars / ton, down 28 US dollars, or 0.
38%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was 55,000 yuan / ton, up 850 yuan, premium 140-200; Guangdong spot 1# copper price was 54960 yuan / ton, up 920 yuan; Yangtze River spot 1# copper price 55050 yuan / ton, up 850 yuan, premium 200-liter 220; Shanghai spot 1# copper price was 54930 yuan / ton, up 830 yuan
.

In the spot market, holders have the willingness to hold up prices, downstream purchases are limited, and traders are generally transacted
.
Citi said China's economic recovery next year is expected to boost metal demand, and supply growth is expected to be constrained by policies; Political uncertainty in the United States has cooled, positive news about vaccines has stimulated hopes of economic recovery, and a warmer macro atmosphere has supported copper prices
.

In terms of news, China's copper imports in October increased year-on-year and have updated annual records, showing that demand remains strong; LME copper stocks have recently continued to decline, falling by more than 15% since mid-October, while stocks in the previous period have fallen below 100,000 tons, global explicit stocks continue to decline, and spot copper prices are expected to rise
today.

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