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    Home > Chemicals Industry > New Chemical Materials > November 12 Shanghai copper afternoon review

    November 12 Shanghai copper afternoon review

    • Last Update: 2022-12-17
    • Source: Internet
    • Author: User
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    Overnight, the Shanghai copper 2001 contract opened at 47120 yuan / ton, and the opening copper price began to rise after a short consolidation, reaching a high of 47280 yuan / ton
    .
    Subsequently, copper prices remained volatile
    around 47250 yuan / ton.
    At the end of the session, copper prices fell downward, and finally Shanghai copper closed at 47140 yuan / ton, down 0.
    25%.

    Today, the Shanghai Copper Index traded 70,000 lots, and short positions increased by 252 lots, reaching 519,000 lots
    .
    At present, the position of Shanghai copper 1912 contract is 175628 lots, and the position of Shanghai copper 2001 contract is 1757.
    5 million lots, and the main contract has completed the monthly
    change.

    Shanghai copper

    In terms of spot, today's market quotation continues to follow the delivery level of the previous period, and taking the spread structure as a reference, today's market quotation is expected to continue to be firm, and the recent market circulating supply is limited, the willingness of holders to hold prices is strong, and the market transaction continues to be deadlocked
    .
    It is expected that today's Shanghai copper 46900-47200 yuan / ton, spot premium 80-liter 110 yuan / ton
    .

    According to data from the China Association of Automobile Manufacturers, China's automobile production and sales rebounded month-on-month in October, and the year-on-year decline was narrower than the previous month, but the recovery was still small, and new energy vehicles showed a year-on-year decline
    for four consecutive months.
    Although the supply risk at the mine end has not been eliminated, the supply of scrap copper will still be tight, but the output of refined copper is relatively sufficient, and the downstream demand is difficult to significantly improve, and it is expected that today's spot statistics will fall
    slightly.

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