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The situation in Russia and Ukraine escalated Shanghai copper followed the external market to open high and low

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper prices fluctuated lower yesterday, and overnight copper rushed back down, and Shanghai copper also followed the high and low
.

With the escalation of the situation in Russia and Ukraine, the market's concerns have gradually been fulfilled, but from past experience, after the boots landed, copper prices were not pessimistic
.
At the same time, market concerns about Russian copper supplies have supported
copper prices.

In terms of supply and demand, after the Lantern Festival, the pace of resumption of work in the domestic downstream is still slow, the operating rate of fine copper rods has not returned to the normal level, the actual impact of the stable growth policy that the market has high hopes for has not yet fully appeared, and the overall demand is still at a sluggish level
.
At the same time, however, domestic supply was lower than expected, and production declined
due to maintenance.

After the holiday, domestic consumption was not good, and spot premiums gradually fell in the context of accumulation, but in the case of reduced shipments from smelters, spot premiums stabilized
.

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