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    Home > Chemicals Industry > New Chemical Materials > Market uncertainty and risk increase, Shanghai copper is weak and volatile

    Market uncertainty and risk increase, Shanghai copper is weak and volatile

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Today's Shanghai copper is weak and volatile, the main month 2204 contract opened at 70660 yuan / ton, the highest intraday 71110 yuan / ton, the lowest 70530 yuan / ton, settled 71030 yuan / ton, closed 70990 yuan / ton, down 40 yuan, down 0.
    06%.

    Shanghai copper

    During the Asian session, London copper fluctuated higher, and the latest quotation at 15:01 Beijing time was 9927 US dollars / ton, up 67 US dollars, or 0.
    68%.

    In terms of the market, the domestic spot copper price fell slightly today, and the copper price of Yangtze River Nonferrous Metal Network 1# was reported at 70910 yuan / ton, down 220 yuan, and the premium was 20-80; Guangdong spot 1# copper price reported 70720 yuan / ton, down 260 yuan; Yangtze River spot 1# copper 70940 yuan / ton, down 220 yuan, premium 60-liter 100; Shanghai spot 1# copper price was 70850 yuan / ton, down 270 yuan
    .

    In the spot market, the holders of goods shipped enthusiastically, the receivers were cautious and less picked, the wait-and-see mood was high, and the overall transaction was average
    .
    The market is waiting for the results of the Russia-Ukraine talks, risk aversion is still uncertain, and downstream consumption after the domestic holiday is still weak, inventories are seasonally accumulating, and copper prices are pulling back or continuing to maintain a wide range
    .

    At the macro level, Europe and the United States increased sanctions against Russia, announcing a ban on the use of the SWIFT system by the Central Bank of Russia and several major Russian banks
    .
    China requires that it firmly implement the strategy of expanding domestic demand, promote coordinated regional development and new-type urbanization, and support market risk sentiment
    .

    Overall, the outbreak of the situation in Russia and Ukraine, the increasing economic sanctions against Russia in Europe and the United States, and the increased risk of market uncertainty have put pressure on copper prices, but the short-term impact on the supply side and the risk of rising inflation still support
    copper prices.

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