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The traditional consumption off-season is coming, and Shanghai copper is running at a low level

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

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cotton prices today market

non ferrous alloys

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Today's Shanghai copper running low, the main monthly 2103 contract opened at 58620 yuan / ton, the highest intraday 58870 yuan / ton, the lowest 57960 yuan / ton, settled 58360 yuan / ton, closed 58710 yuan / ton, down 750 yuan
.
The trading volume of the main 2103 contract of Shanghai copper decreased by 23620 lots throughout the day 155293 lots, and the position increased by 6954 to 110137 lots
.

Shanghai copper

During the Asian session, London copper opened high, and the latest quotation at 15:00 Beijing time was 7975 US dollars / ton, up 129.
5 US dollars, or 1.
65%.

In terms of the market, today's domestic spot copper prices fell sharply, Yangtze River nonferrous metal network 1# copper price was reported at 58270 yuan / ton, down 1200 yuan, premium 60-liter 120; Guangdong spot 1# copper price reported 58260 yuan / ton, down 1220 yuan; Yangtze River spot 1# copper price 58390 yuan / ton, down 1180 yuan, premium 190-liter 210; Shanghai spot 1# copper price was 58240 yuan / ton, down 1250 yuan
.

In the spot market, traders are mainly wait-and-see, downstream bargain hunting, and transactions have improved slightly
.
The market is pessimistic, non-ferrous metals are generally downward, the traditional consumption off-season is coming, and the demand side may weaken marginally
.

The traditional off-season in China is coming, demand tends to weaken, and inventories may accumulate, and the first quarter of previous years is the accumulation period; Institutional survey data show that refined copper production in December increased significantly month-on-month, large-scale smelting continued to have high production at the end of the year, and spot copper prices are expected to continue to decline
.

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