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    Home > Chemicals Industry > New Chemical Materials > Lack of positive factors Shanghai copper has limited room for rebound

    Lack of positive factors Shanghai copper has limited room for rebound

    • Last Update: 2022-12-26
    • Source: Internet
    • Author: User
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    Today's Shanghai copper gap opened low, intraday trend ups and downs, the main month 2212 contract opened at 62510 yuan / ton, the highest intraday 63110 yuan / ton, the lowest 62510 yuan / ton, settlement 62970 yuan / ton, closed 62750 yuan / ton, down 220 yuan, down 0.
    35%.

    The trading volume of the main 2212 contract of Shanghai copper increased by 12157 lots to 89367 lots throughout the day, and the position volume of 185041 lots increased by 4988 lots
    .

    Shanghai copper

    During the Asian session, London copper opened low and upward, and the latest quotation at 15:01 Beijing time was 7566 US dollars / ton, up 50 US dollars, or 0.
    66%.

    In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 64080 yuan / ton, down 340 yuan, premium 310-liter 350; The Yangtze River Comprehensive 1# copper price was reported at 64190 yuan / ton, down 250 yuan, 380-500 liters; Guangdong spot 1# copper price reported 64300 yuan / ton, down 160 yuan, premium 450-650; Shanghai spot 1# copper price was 64,000 yuan / ton, down 260 yuan
    .

    The number of dumpers in the spot market increased, the downstream procurement demand was not high, the overall trading was cold, and the transaction did not see a significant improvement
    .
    Weak U.
    S.
    economic data in recent days and expectations of interest rate hikes have cooled, but the global economic outlook is worrying, weighing on copper prices
    .
    The copper fundamentals are lackluster, the concentrated inflow of imported copper into spot trading tends to be loose, the lack of favorable factors, the copper price rebound height is limited, and Shanghai copper continued to close lower
    during the day.

    Domestic production is expected to rebound in the fourth quarter, some imported copper inflows to supplement spot offset the tight situation, the overall supply and demand is looser than the previous period, the demand for gold nine silver ten is less than expected, there are global recession expectations and export decline suppression, there is intermittent impact of epidemic control, the overall consumption is difficult to have a significant increase, and the high level of premium inhibits buying, copper prices have limited space for rebound, and copper or a small decline
    .

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