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The market has pre-holiday stock demand and short-term Shanghai copper may remain high

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

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Today's Shanghai copper running high, the main month 2010 contract opened at 52010 yuan / ton, the highest intraday 52780 yuan / ton, the lowest 51870 yuan / ton, settlement 52260 yuan / ton, closed 52160 yuan / ton, up 170 yuan
.
The trading volume of the main 2010 contract of Shanghai copper decreased by 20,489 lots 100777 lots, and the position decreased by 6,707 to 86,276 lots
.

Shanghai copper

During the Asian session, London copper rushed back down, and the latest quotation at 15:15 Beijing time was 6833 US dollars / ton, down 17 US dollars, or 0.
25%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was 52440 yuan / ton, up 260 yuan, 10-70 liters; Guangdong spot 1# copper price was reported at 52420 yuan / ton, up 300 yuan; Yangtze River spot 1# copper price 52550 yuan / ton, up 240 yuan, premium 130-liter 150; Shanghai spot 1# copper price was 52470 yuan / ton, up 270 yuan
.

In the spot market, traders mainly inquired about prices, and the downstream cautiously waited and watched, and trading was slightly
deadlocked.
ANZ said copper prices could remain high in the short term
, as there was demand for pre-holiday stocking in the domestic market, ANZ said the depreciation of the US dollar and the positive economic outlook boosted market sentiment.

The short-term tight state of the mine end continued, and TC continued to remain low, but the capacity utilization rate of smelters gradually increased; In September, cable company orders declined, copper pipe orders picked up in the middle and late months, copper pipe companies had a certain stock demand before the holiday, the macro loose environment has not changed for the time being, and copper materials are rising
today.

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