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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper fell slightly The pattern of weak market supply and demand is obvious

    Shanghai copper fell slightly The pattern of weak market supply and demand is obvious

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Overnight, the outer metal was mostly red, only Lun copper and aluminum fell, and Lun copper and aluminum both fell by more than 0.
    3%.

    Except for Shanghai copper and Shanghai lead, which recorded different degrees of decline, the rest of the metals closed higher
    .
    Shanghai copper edged down 0.
    09%.

    Shanghai copper

    On the macro level, yesterday's Russian Foreign Ministry issued a statement saying that in response to the US government's sanctions imposed on 328 deputies of the State Duma of the Russian Federation Parliament on March 24 this year, Russia decided to impose "mirror" sanctions on 398 members of the US House of Representatives, which also shows that the situation between Russia and Ukraine is obviously still a long way
    from being properly resolved.
    At the same time, the dollar index also retreated
    from its high yesterday.

    On the supply side, domestic copper mine TC continued to rise, and under the maintenance and shutdown of domestic smelters, supply-side easing expectations continued to expand.

    On the demand side, the operating rate of fine copper rod last week was 42.
    15%, a sharp decrease of 15.
    21%
    month-on-month.
    The continued severity of the epidemic has made the industry passive, and the current epidemic situation in Shanghai is still tense, and the impact of the subsequent shortage of raw materials will be more obvious, and the operating rate of fine copper rods may continue to decline
    .

    In terms of stocks, total LME stocks rose 0.
    26 million tonnes to 107,000 tonnes and SHFE stocks fell 0.
    01 million tonnes to 35,000 tonnes
    .

    On the whole, currently affected by the epidemic, the pattern of weak supply and demand is obvious
    .
    And due to the light spot transaction, the market premium quotation has fallen
    .

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