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    Home > Chemicals Industry > New Chemical Materials > The weak market demand shows that the Shanghai copper shock has fallen

    The weak market demand shows that the Shanghai copper shock has fallen

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    On Wednesday, the Shanghai copper 2207 contract fell back and finally closed at 71600 yuan / ton; The trend of the international copper 2208 contract also fell, and finally closed at 63820 yuan / ton
    .
    Overnight, copper fluctuated and rebounded, with Shanghai copper and international copper following higher
    .

    Shanghai copper

    On Wednesday, the Shanghai electrolytic copper spot contract was reported at 260-310 yuan / ton, the average price of 285 yuan / ton, unchanged from the previous day, the first day of June supply and demand stalemate difficult to find low-priced goods, premium temporarily stable
    .
    The Dragon Boat Festival is approaching, the downstream stocking sentiment is not high, some production enterprises and terminal raw material warehouses are still but not much, and the overall demand is weak
    .

    On the macro front, worried about the recession caused by hawkish interest rate hikes, European and American stock markets closed down on the first day of trading in June, and government bond yields rose sharply; National Standing Meeting: Deploy a package of policies and measures to accelerate the stabilization of the economy and take effect, so that market entities and the people should know everything and enjoy it to the fullest; In the United States, the ISM manufacturing employment sub-item contracted in May, and the price sub-item remained high; Dovish senior Fed officials support aggressive rate hikes until inflation is subdued, with the top three saying a pause is unlikely
    .

    In terms of industries, the country's copper production fell 9.
    8% year-on-year to 421,742 tonnes in April, according to Chile's National Institute of Statistics.
    Due to a workers' strike, Glencore's Raglan nickel-copper mine suspended production
    .

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