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Today's Shanghai copper opened high and low, the main monthly 2208 contract opened at 56850 yuan / ton, the highest intraday 57300 yuan / ton, the lowest 55940 yuan / ton, settled 56360 yuan / ton, closed 56180 yuan / ton, down 180 yuan, down 0.
32%.
The trading volume of the main 2208 contract of Shanghai copper decreased by 16,777 lots 117577 lots throughout the day, and the 111861 of positions decreased by 4,234 lots
.
During the Asian session, London copper fluctuated sharply, and the latest quotation at 15:01 Beijing time was 7292 US dollars / ton, down 38 US dollars, or 0.
52%.
In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 56500 yuan / ton, down 200 yuan, premium 320-liter 360; The Yangtze River Comprehensive 1# copper price was reported at 56400 yuan / ton, down 210 yuan, and the premium was 180-300; Guangdong spot 1# copper price was reported at 56300 yuan / ton, down 220 yuan, premium 40-liter 240; Shanghai spot 1# copper price was 56430 yuan / ton, down 230 yuan
.
In the spot market, downstream consumption is generally unhappy, trading is flat, the receiver has no intention of replenishing at high prices, buying orders continue to decrease, and transactions are weak
.
Macro sentiment warmed, the dollar fell back from the high, non-ferrous metals were able to breathe, but the road to Shanghai copper rebound was not smooth, domestic fundamentals have not changed for the time being, the continuation of the pattern of strong supply and demand and the instability of the epidemic and real estate will be the upward stumbling block of the Shanghai copper rebound, so that the Shanghai copper rebound is blocked by the low shock
.
Domestically, the market believes that the official stimulus policy will not be introduced for the excessive growth target
.
At present, under the reality of high economic pressure, the official may lower the full-year economic growth target
.
In Europe and the United States, the European Central Bank will announce its interest rate decision in the evening, the expectation of tight natural gas supply in Europe remains unchanged, the political turmoil in Italy, and the short-term euro boost effect is limited
.
The macro picture remains bearish
.
Approaching the Fed's July interest rate decision, the market performance is cautious, and copper prices are expected to remain low and volatile, supporting attention to 55500
.
