echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper is still operating in the high range

    Shanghai copper is still operating in the high range

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper opened low and rose high, the main monthly 2205 contract opened at 73270 yuan / ton, the highest intraday 74310 yuan / ton, the lowest 73120 yuan / ton, settled 73540 yuan / ton, closed 74210 yuan / ton, up 670 yuan, or 0.
    91%.

    The trading volume of the main 2205 contract of Shanghai copper increased by 16442 lots to 82724 lots throughout the day, and the position volume of 166961 increased by 7087 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated higher, and the latest quotation at 15:01 Beijing time was 10470 US dollars / ton, up 119 US dollars, or 1.
    15%.

    In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 74120 yuan / ton, down 140 yuan, premium 380-liter 420; Yangtze River nonferrous metal net 1# copper price reported 74110 yuan / ton, down 70 yuan, premium 360-liter 420; Guangdong spot 1# copper price was reported at 73660 yuan / ton, down 110; Shanghai spot 1# copper price was 73950 yuan / ton, down 235 yuan
    .

    In the spot market, traders took the initiative to adjust prices and shipments, receivers' willingness to purchase was more positive than yesterday, the trading atmosphere warmed up, and the overall trading volume was better than yesterday
    .
    Russia-Ukraine face-to-face negotiations have made constructive progress, boosting market risk sentiment, but the domestic epidemic continues to impact the spot market, downstream deposits are more wait-and-see, actual consumption is still weak, and short-term copper prices are still operating
    in a high range.

    Industry news, March 30: China's major copper smelters set the floor price of copper concentrate processing fees and refining fees (TC/RCs) for the second quarter of 2022 at $80/mt and 8 cents/lb
    , sources said on Wednesday.

    Recently, LME inventories have increased slightly, domestic consumption continues to be dragged down by the epidemic, and the market is generally trading, only a small number of participants purchase, the overall situation is priceless and marketless, and the weakness of spot demand will continue to push up processing fees, and copper may fall
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.