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Today's Shanghai copper opened low and went low, the main monthly 2104 contract opened at 67410 yuan / ton, the highest intraday 67610 yuan / ton, the lowest 65730 yuan / ton, settled 66690 yuan / ton, closed 66780 yuan / ton, down 770 yuan
.
The trading volume of the main 2104 contract of Shanghai copper decreased by 92448 lots 242399 lots throughout the day, and the position decreased by 6941 to 120945 lots
.
During the Asian session, London copper bottomed out, and the latest quotation at 15:11 Beijing time was 9018 US dollars / ton, down 13 US dollars, or 0.
14%.
In terms of the market, today's domestic spot copper prices fell sharply, Yangtze River nonferrous metal network 1# copper price was reported at 66200 yuan / ton, down 1360 yuan, discount 50-liter 10; Guangdong spot 1# copper price reported 66220 yuan / ton, down 1360 yuan; Yangtze River spot 1# copper 66280 yuan / ton, down 1360 yuan, premium 50-liter 70; Shanghai spot 1# copper price was 66160 yuan / ton, down 1400 yuan
.
In the spot market, some traders wait and see, and the downstream is purchasing at the right price, and the transaction is general
.
Metal prices are under pressure due to the strength of U.
S.
bonds and the U.
S.
dollar, and the bearish market sentiment, but copper prices may strengthen again as the global economy recovers and the traditional peak season approaches
.
On the news front, analysts expect more copper concentrate inflows, with a large number of copper concentrate cargoes from Chile and Peru arriving at Chinese ports, which are expected to surge by more than 60% month-on-month in March, and smelter feedstock supply tightness may ease, and spot copper prices are expected to fall.
