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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper continues to seek the bottom The overall transaction of the market is average

    Shanghai copper continues to seek the bottom The overall transaction of the market is average

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    Today's Shanghai copper low trend, the main month 2107 contract opened at 68620 yuan / ton, the highest intraday 68960 yuan / ton, the lowest 66960 yuan / ton, settled 69080 yuan / ton, closed 67260 yuan / ton, down 1820 yuan
    .
    The trading volume of the main 2107 contract of Shanghai copper increased by 25,711 lots 159616 the whole day, and the position volume 106284 decreased by 5,394 lots
    .

    Shanghai copper

    During the Asian session, London copper trend is strong, the latest quotation at 15:01 Beijing time is 9236 US dollars / ton, up 46 US dollars, or 0.
    5%.

    In terms of the market, today's domestic spot copper prices fell, 1# copper price was 67750 yuan / ton, down 1340 yuan, premium 200-liter 260; Guangdong spot 1# copper price reported 67550 yuan / ton, down 1410 yuan; Yangtze River spot 1# copper 67770 yuan / ton, down 1390 yuan, premium 240-liter 260; Shanghai spot 1# copper price was 67780 yuan / ton, down 1390 yuan
    .

    In the spot market, the circulation supply is limited, the low-price transaction is smooth, the downstream demand is weak, and the overall transaction is average
    .
    Copper prices extended yesterday's volatile downside, following the Federal Reserve's increase in the repo rate, expectations of tighter short-term liquidity rose, the dollar soared, and metals came under pressure
    .
    Short-term market sentiment and macro will dominate the market, and copper prices continue to seek bottoming and looking for support
    .

    Copper prices continued to fall on Thursday, the main reason for the retaliatory rise of the dollar, after half a year of dormancy at the low, the tone of the recent Fed meeting began to weaken, triggering a sharp reduction in dollar bears, which also means that the financial attributes of commodities have declined, and prices have begun to return
    to fundamentals.
    Back to the copper market, overseas inventories continue to rise, domestic continues to decline, import windows begin to recover, and scrap copper is sold, but the entry of consumers can form real support, waiting for the emergence
    of this price level.

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