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May 22 Copper Market Afternoon Review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Copper Market Summary: The rise in the dollar index and the pullback in oil prices put pressure, London copper closed down $28 overnight, the United Nations report that global economic growth is slowing, copper market demand outlook may be affected, copper is expected to fall
today.

Copper City

Today's Shanghai electrolytic copper spot contract reported a premium of 100 ~ 160 yuan / ton, the transaction price of flat water copper was 47460 yuan / ton ~ 47520 yuan / ton, and the trading price of premium copper was 47500 yuan / ton ~ 47560 yuan / ton
.
Overnight, London copper broke 6,000 US dollars and fell, Shanghai copper followed the decline, and today's copper was sorted
out around 47400 yuan / ton.

Spot inventory performance decreased, superimposed copper prices fell, the morning market inquiry atmosphere is active, the willingness to receive goods is proactive, the holder is resolute, the market opens with a premium of 100~150 yuan / ton, attracting some traders to buy and deliver long orders, the premium shows a slight increase, flat water copper is lower than the premium 100 yuan / ton difficult to find a source, is raised to the premium 110 ~ 120 yuan / ton, good copper premium 150 ~ 160 yuan / ton near the transaction continues to perform well, downstream bargain trading willingness continues to improve, wet copper is a comprehensive premium, The quotation premium is 20~50 yuan / ton
.
The market supply performance is not abundant, traders receive and deliver long orders, the decline in the market attracts some downstream bargain buying, the current market has not shown signs of stopping, short-term will still maintain high premium quotations
.

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