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The trend of Shanghai copper stopped falling and rebounded, and the short-term maintenance range was mainly range-bound

 Last Update: 2022-12-01
 Source: Internet
 Author: User

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1.
Summary of copper prices in major domestic cities

market	name of article	Material	Price range		Change	remark
Guangdong spot	1# Copper	1 #	36570-36770	Yuan/ton	50	Tax included
Shanghai spot	1# Copper	1 #	36600-36700	Yuan/ton	40	Tax included
Shanghai spot	Flat water copper		36600-36680	Yuan/ton	50	Tax included
Shanghai spot	Liters of copper		36630-36700	Yuan/ton	40	Tax included
Shanghai	1# Copper	1 #	36600-36700	Yuan/ton	50	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	34000-34200	Yuan/ton	0	Tax not included
Jinan spot	1# Copper	1 #	36750-36750	Yuan/ton	50	Tax included
Shenyang spot	1# Copper	1 #	36850-36850	Yuan/ton	50	Tax included
Beijing spot	1# Copper	1 #	36800-36800	Yuan/ton	50	Tax included
Tianjin spot	1# Copper	1 #	36800-36800	Yuan/ton	50	Tax included
Wuxi spot	1# Copper	1 #	36800-36800	Yuan/ton	50	Tax included
Xi'an spot	1# Copper	1 #	36850-36850	Yuan/ton	50	Tax included
Chongqing spot	1# Copper	1 #	36850-36850	Yuan/ton	50	Tax included
Guangzhou spot	1# Copper	1 #	36750-36750	Yuan/ton	50	Tax included
Wuhan spot	1# Copper	1 #	36800-36800	Yuan/ton	50	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 36570-36770 Yuan/ton 50 Tax included Shanghai spot 1# Copper 1# 36600-36700 Yuan/ton 40 Tax included Shanghai spot Flat water copper 36600-36680 Yuan/ton 50 Tax included Shanghai spot Liters of copper 36630-36700 Yuan/ton 40 Tax included Shanghai 1# Copper 1# 36600-36700 Yuan/ton 50 Tax included Foshan spot 1# Electrolytic copper plate 1# 34000-34200 Yuan/ton 0 Tax not included Jinan spot 1# Copper 1# 36750-36750 Yuan/ton 50 Tax included Shenyang spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Beijing spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Tianjin spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Wuxi spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Xi'an spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Chongqing spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Guangzhou spot 1# Copper 1# 36750-36750 Yuan/ton 50 Tax included Wuhan spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included market name of article Material Price range Change remark Market market Product name, product name Material material Price RangePrice Range Ups and downs Remarks Note: Remarks Guangdong spot 1# Copper 1# 36570-36770 Yuan/ton 50 Tax included Guangdong spot 1# Copper 1# 36570-36770 Yuan/ton 50 Tax included Shanghai spot 1# Copper 1# 36600-36700 Yuan/ton 40 Tax included Shanghai spot 1# Copper 1# 36600-36700 Yuan/ton 40 Tax included Shanghai spot Flat water copper 36600-36680 Yuan/ton 50 Tax included Shanghai spot Flat water copper 36600-36680 Yuan/ton 50 Tax included Shanghai spot Liters of copper 36630-36700 Yuan/ton 40 Tax included Shanghai spot Liters of copper 36630-36700 Yuan/ton 40 Tax included Shanghai 1# Copper 1# 36600-36700 Yuan/ton 50 Tax included Shanghai 1# Copper 1# 36600-36700 Yuan/ton 50 Tax included Foshan spot 1# Electrolytic copper plate 1# 34000-34200 Yuan/ton 0 Tax not included Foshan spot 1# Electrolytic copper plate 1# 34000-34200 Yuan/ton 0 Tax not included Jinan spot 1# Copper 1# 36750-36750 Yuan/ton 50 Tax included Jinan spot 1# Copper 1# 36750-36750 Yuan/ton 50 Tax included Shenyang spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Shenyang spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Beijing spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Beijing spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Tianjin spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Tianjin spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Wuxi spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Wuxi spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Xi'an spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Xi'an spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Chongqing spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Chongqing spot 1# Copper 1# 36850-36850 Yuan/ton 50 Tax included Guangzhou spot 1# Copper 1# 36750-36750 Yuan/ton 50 Tax included Guangzhou spot 1# Copper 1# 36750-36750 Yuan/ton 50 Tax included Wuhan spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included Wuhan spot 1# Copper 1# 36800-36800 Yuan/ton 50 Tax included

2.
Market review

Today's Shanghai copper low open oscillation, intraday trend slightly up, the current month 1604 contract opening price of 36560 yuan / ton, as of 15:00 pm, the latest price is 36710 yuan / ton, up 30 yuan; The lowest price within the day is 36560 yuan / ton, and the highest price is 36760 yuan / ton
.
The main opening price of Shanghai copper was 36,600 yuan / ton, and as of 15:00 p.
m.
, the latest price was 36,730 yuan / ton, up 30 yuan; The lowest price within the day was 36550 yuan / ton, and the highest price was 36810 yuan / ton
.

Shanghai copper

In terms of external trading, yesterday, the internal and external copper markets closed slightly positive, while in the non-Shanghai copper trading session, LME three-month copper trading was cold, obviously lacking independent rebound momentum, and passively following oil prices
.
Oil prices rebounded as Kuwait's representative to OPEC said that an agreement could still be reached at the April 17 frozen production meeting, but London copper still stood at $
4,800.
Three-month copper on the London Metal Exchange (LME) was little changed at $
4,777.
50 a tonne.
Continue to pay attention to the performance of the short-term resistance level of London copper at $4,800, while the willingness to rebound mainly comes from Shanghai copper, and pay attention to Shanghai copper at 37,000 short-term resistance
.

3.
Overview of the domestic copper market

On the macro front, after Qingming, the better domestic PMI data for March hinted at the momentum of economic rebound, the domestic stock market was stable, the international side paid attention to the progress of crude oil frozen production, and on the eve of the frozen production meeting, major oil-producing countries shouted for their own interests, and crude oil prices temporarily stabilized
.
At present, the sentiment of the commodity market is still cautious, and it is expected that the short-term copper market will be difficult to get out of the range-bound pattern
.

Today's Shanghai electrolytic copper spot contract discount of 80 yuan / ton - discount 20 yuan / ton, flat water copper trading price of 36600 yuan / ton - 36680 yuan / ton, premium copper trading price of 36630 yuan / ton - 36700 yuan / ton
.
In the market, the willingness of holders to raise prices has increased, coupled with some large traders entering the market to receive goods, the source of spot copper has decreased, discount quotations have narrowed all the way, there is still a wait-and-see mentality downstream, market transactions are dominated by middlemen, activity has improved compared with yesterday, holders are mostly optimistic about the late conversion of copper to small premium quotations, and the willingness to push up is obvious
.

4.
Copper closing situation

Today's Shanghai copper rose slightly, the transaction volume contracted, and the long and short were mainly
wait-and-see.
Shanghai copper 1606 contract due to A shares in the afternoon diving slightly, the price volatility lower, the end of the rise to stabilize, 1606 finally closed 36730 yuan / ton, up 30 yuan / ton, up 0.
08%, position increased 5448 lots
.
The total position of copper in Shanghai increased by 2,354 lots to 733,800 lots, with a total transaction volume of 370,000 lots
.

5.
Aftermarket analysis

At present, Shanghai copper has retraced more than 7% from this round of rebound highs, while the US dollar index has continued to decline recently, China's service PMI in March is again stronger than expected, but there are uncertainties in the outlook for industrial metal demand, and investors need to be wary of excessive concerns about China's demand outlook, and short-term Shanghai copper maintains range-bound volatility
.

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