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Today's Shanghai copper opening is strong, the afternoon gains expanded, the main month 1802 contract opened at 55060 yuan, the highest intraday 55840 yuan, the lowest 55030 yuan, the settlement price 55420 yuan, the close 55770 yuan / ton, the closing up 660 yuan, up 1.
20%.
Shanghai copper 1802 full-day trading volume 257758 increased by 75612 lots, position decreased by 1294 lots to 182368, Beijing time at 15:00 London copper latest price of 7297 up 78 US dollars
.
The sharp fall of the US dollar in the afternoon triggered a rebound in the metals market across the board, and the morale of the bulls is still strong, and Shanghai copper is expected to be strong in
the evening.
In terms of market, Yangtze River Nonferrous Network 1# copper 54900 yuan / ton, up 300 yuan; Guangdong spot 1# copper price was 55070 yuan / ton, up 220 yuan; Yangtze River spot 1# copper price was reported at 54930 yuan / ton, up 300 yuan, copper discount 220-discount 200; Shanghai spot 1# electrolytic copper 54890 yuan / ton, up 290 yuan, flat water copper transaction 54875, up 290 yuan, premium copper transaction 54910, up 290 yuan
.
Today's spot copper prices rose, the market generally entered a settlement state, most holders began to stop shipments, downstream and traders generally suspended receiving goods, and trading basically stagnated
.
Today's Foshan market copper prices continue to rise slightly, at the end of the year London copper 15 consecutive rise super strong rally has made the market bullish sentiment high, but the domestic market and rise strength has been weak, external strong internal weak pattern began to appear
.
Although the current supply of recycled copper is still tight, and with the preliminary clarity of the import license of seven types of scrap metal in 2018, the industry generally expects that the supply of recycled copper will be more scarce next year, or will support the continued rise in copper prices, but after more than ten consecutive days of rise, copper prices have accumulated a large increase, recycled copper holders have a more positive shipping mentality, profit first
.
However, considering the shortage of funds and weakening demand at the end of the year, due to the increase in risk coefficient after the continuous rise in copper prices, copper manufacturers are still cautious and wait-and-see
.
In terms of news, data from the State Administration of Foreign Exchange showed that the surplus of trade in goods and services in November was 28.
8 billion US dollars, an increase of 17.
55% over the previous month, and China's strong trade data triggered the market to be optimistic about the global economic recovery, and copper prices may maintain a high volatility in the short term
.
