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    Home > Chemicals Industry > New Chemical Materials > Domestic holidays closed during the copper shock adjustment

    Domestic holidays closed during the copper shock adjustment

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
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    London copper fell slightly on Friday due to the strengthening of the US dollar
    .
    Shanghai copper holiday closed market, holiday date price London copper continued to pullback, today domestic Shanghai copper will also follow the shock adjustment
    .

    Copper period

    On the information side, the US stock market rose slightly, and also maintained a volatile upward trend
    .
    External crude oil continued to rise and remained strong
    .
    The dollar index sorted
    out at a high level.
    U.
    S.
    job growth picked up quickly from a 17-month low in February as mild weather boosted activity in sectors such as construction, which could further ease fears
    of a sharp slowdown in first-quarter growth.

    In terms of the market, Shanghai spot copper quotations were at 49080-49290 yuan / ton, up 25 yuan / ton, and for the 1904 contract, up 40 / ton - 180 yuan / ton
    .
    The market transaction performance is good, resulting in the price to rise, good copper from +150 in the morning, then rose to about +160, flat water copper prices remain stable has been maintained between 40-50, the transaction is relatively good, wet supply is less, some holders cover the price, the price remains firm, the price is adjusted to -30 after -50 in the morning but there are fewer
    downstream pick-ups.

    Foreign media news on April 1, many market participants believe that there will be a shortage
    of supply in the copper market in the next few years.
    But Fitch said that was unlikely to happen because of weak demand in China
    .
    Fitch said the new mine project is expected to increase
    market supply.
    Copper prices have recently been near yearly highs on optimism about a possible U.
    S.
    -China trade deal and copper mining problems
    in Peru and Chile.
    Copper is one of the most actively traded metals and is seen as a barometer
    of industrial growth.

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