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Copper volatility rises after the holiday remains to be seen

 Last Update: 2022-12-02
 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 #	37240-37440	Yuan/ton	250	Tax included
Shanghai spot	1# Copper	1 #	37230-37470	Yuan/ton	300	Tax included
Shanghai spot	Flat water copper		37230-37450	Yuan/ton	300	Tax included
Shanghai spot	Liters of copper		37250-37470	Yuan/ton	300	Tax included
Shanghai	1# Copper	1 #	37300-37400	Yuan/ton	300	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	34700-34900	Yuan/ton	200	Tax not included
Jinan spot	1# Copper	1 #	37450-37450	Yuan/ton	300	Tax included
Shenyang spot	1# Copper	1 #	37550-37550	Yuan/ton	300	Tax included
Beijing spot	1# Copper	1 #	37500-37500	Yuan/ton	300	Tax included
Tianjin spot	1# Copper	1 #	37500-37500	Yuan/ton	300	Tax included
Wuxi spot	1# Copper	1 #	37500-37500	Yuan/ton	300	Tax included
Xi'an spot	1# Copper	1 #	37550-37550	Yuan/ton	300	Tax included
Chongqing spot	1# Copper	1 #	37550-37550	Yuan/ton	300	Tax included
Guangzhou spot	1# Copper	1 #	37550-37550	Yuan/ton	250	Tax included
Wuhan spot	1# Copper	1 #	37500-37500	Yuan/ton	300	Tax included
Kunming spot	1# Copper	1 #	37600-37600	Yuan/ton	300	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 37240-37440 Yuan/ton 250 Tax included Shanghai spot 1# Copper 1# 37230-37470 Yuan/ton 300 Tax included Shanghai spot Flat water copper 37230-37450 Yuan/ton 300 Tax included Shanghai spot Liters of copper 37250-37470 Yuan/ton 300 Tax included Shanghai 1# Copper 1# 37300-37400 Yuan/ton 300 Tax included Foshan spot 1# Electrolytic copper plate 1# 34700-34900 Yuan/ton 200 Tax not included Jinan spot 1# Copper 1# 37450-37450 Yuan/ton 300 Tax included Shenyang spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Beijing spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Tianjin spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Wuxi spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Xi'an spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Chongqing spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Guangzhou spot 1# Copper 1# 37550-37550 Yuan/ton 250 Tax included Wuhan spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Kunming spot 1# Copper 1# 37600-37600 Yuan/ton 300 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# 37240-37440 Yuan/ton 250 Tax included Guangdong spot 1# Copper 1# 37240-37440 Yuan/ton 250 Tax included Shanghai spot 1# Copper 1# 37230-37470 Yuan/ton 300 Tax included Shanghai spot 1# Copper 1# 37230-37470 Yuan/ton 300 Tax included Shanghai spot Flat water copper 37230-37450 Yuan/ton 300 Tax included Shanghai spot Flat water copper 37230-37450 Yuan/ton 300 Tax included Shanghai spot Liters of copper 37250-37470 Yuan/ton 300 Tax included Shanghai spot Liters of copper 37250-37470 Yuan/ton 300 Tax included Shanghai 1# Copper 1# 37300-37400 Yuan/ton 300 Tax included Shanghai 1# Copper 1# 37300-37400 Yuan/ton 300 Tax included Foshan spot 1# Electrolytic copper plate 1# 34700-34900 Yuan/ton 200 Tax not included Foshan spot 1# Electrolytic copper plate 1# 34700-34900 Yuan/ton 200 Tax not included Jinan spot 1# Copper 1# 37450-37450 Yuan/ton 300 Tax included Jinan spot 1# Copper 1# 37450-37450 Yuan/ton 300 Tax included Shenyang spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Shenyang spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Beijing spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Beijing spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Tianjin spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Tianjin spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Wuxi spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Wuxi spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Xi'an spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Xi'an spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Chongqing spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Chongqing spot 1# Copper 1# 37550-37550 Yuan/ton 300 Tax included Guangzhou spot 1# Copper 1# 37550-37550 Yuan/ton 250 Tax included Guangzhou spot 1# Copper 1# 37550-37550 Yuan/ton 250 Tax included Wuhan spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Wuhan spot 1# Copper 1# 37500-37500 Yuan/ton 300 Tax included Kunming spot 1# Copper 1# 37600-37600 Yuan/ton 300 Tax included Kunming spot 1# Copper 1# 37600-37600 Yuan/ton 300 Tax included

2.
Market review

Overnight, Shanghai copper followed the London copper shock higher after the open, but the trend was significantly weaker than the outer market
.
Today's Shanghai copper opened higher after the shock, basically maintained range sorting during the day, and the increase was limited
.
The opening price of the current month's 1604 contract was 37490 yuan / ton, and as of 15:00 p.
m.
, the latest price was 37960 yuan / ton, up 490 yuan; The lowest price within the day was 37490 yuan / ton, and the highest price was 38020 yuan / ton
.
The main opening price of Shanghai copper was 37250 yuan / ton, as of 15:00 pm, the latest price was 37620 yuan / ton, up 360 yuan; The lowest price within the day is 37160 yuan / ton, and the highest price is 37750 yuan / ton
.

Copper period

Externally, London copper futures edged higher today, with three-month copper on the London Metal Exchange (LME) rising 0.
45% to $4,964 a tonne, up 0.
8%
in the previous session.
Taken together, London copper is likely to fall this week as sentiment is negative
following measures taken by China to curb speculative trading.
It is reported that Chinese regulators have asked the three major commodity exchanges to control intraday speculative trading of commodities to avoid excessive trading volume and volatility
.
Copper prices have fallen more than 1 percent this week, after rising more than 8 percent
in the two weeks on expectations of strong Chinese demand.
China's manufacturing PMI next week will provide clues
to its demand.

3.
Overview of the domestic copper market

On the macro front, following the Fed's announcement of no interest rate hikes, last night's latest data in the United States showed that the growth rate of the U.
S.
economy in the first quarter was the slowest in two years, bringing new pressure to the dollar, the dollar index has fallen continuously since this week to help support the metal market sentiment, copper and other base metal prices have received some support, in addition to being boosted by the rise in crude oil, yesterday evening copper trend is strong, but May Day is coming, some investors left the market to hedge, domestic copper prices are still limited
.

Today's Shanghai electrolytic copper spot report discount 140 yuan / ton - discount 100 yuan / ton, flat water copper transaction price 37230 yuan / ton - 37450 yuan / ton, premium copper transaction price 37250 yuan / ton - 37470 yuan / ton
.
After the rise in copper prices in the morning, copper trading began to be active, and traders and downstream favored low-priced sources, especially wet copper
.
After the rise in copper prices, although good copper has the willingness to sell, it is difficult to expand
the discount because the flat water copper discount is strong.
In the second quarter of the morning, when copper prices continued to rise, downstream and speculators began to show fear of heights, and on the last trading day before Labor Day, due to objective factors such as settlement and logistics, the buying volume decreased
significantly compared with yesterday.
The overall transaction volume of the market first rose and then declined, and the pre-holiday characteristics were obvious
.

4.
Copper closing situation

Today's Shanghai copper main force opened high in the morning, intraday crude oil, black rose sharply, the dollar weakened, Shanghai copper was boosted to significantly reduce positions upward, up to 37750 yuan / ton, after a slight pullback, midday at 37640 yuan closed
.
In the afternoon, it was sideways, and the main 1606 finally closed at 37620 yuan / ton, up 360 yuan / ton, or 0.
97%.

Copper prices unexpectedly rose today, the price tested to the 5-day moving average under pressure, the current position should not be chased higher, short-term wait and see the holiday and then fight
.

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