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Today's Shanghai copper opened low and volatile, rushed high in the afternoon to close slightly positive, the main month 2211 contract opened at 62230 yuan / ton, the highest intraday 62490 yuan / ton, the lowest 61980 yuan / ton, settlement 62210 yuan / ton, closed 62270 yuan / ton, up 60 yuan, or 0.
10%.
The main 2211 contract of Shanghai copper decreased by 10807 lots to 82732 contracts throughout the day, and the position volume 137094 decreased by 7855 lots
.
During the Asian session, London copper fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 7412 US dollars / ton, up 47 US dollars, or 0.
63%.
In terms of the market, today's domestic spot copper prices fell, Yangtze River spot 1# copper 62890 yuan / ton, down 300 yuan, premium 810-liter 850; The Yangtze River Comprehensive 1# copper price was reported at 62750 yuan / ton, down 320 yuan, and the premium was 630-750; Guangdong spot 1# copper price was reported at 62600 yuan / ton, down 350 yuan, premium 440-640; Shanghai spot 1# copper price was 62790 yuan / ton, down 290 yuan
.
In the spot market, the decline in copper prices continued, the quotations of holders were confused and delayed, downstream enterprises continued to replenish goods on demand, and it was difficult to increase the underwater consumption of high rises, and today's transaction atmosphere was weak
.
Dragged down by the Fed's aggressive interest rate hike expectations to continue, the strength of the US dollar also brought pressure, the macro situation is difficult to say optimistic, and Shanghai copper is under obvious pressure
.
However, the growth of copper inventories in London and Shanghai was temporarily suspended, and both of them fell, and the recovery of spot premiums slightly supported copper prices, and the close of the day was strong and closed slightly
.
Industry news, foreign power news on October 20, Japan wire and cable manufacturers association said that Japan's September copper cable sales (domestic and export) increased by 10.
7% year-on-year to 57,000 tons
.
At present, domestic copper production in the fourth quarter is also expected to recover, and the end of the peak season will weaken the downstream consumption margin, the overall supply and demand is looser than the previous period, the spot high premium has fallen, the market is generally wait-and-see, the overall transaction situation is weak, but the spot stock is still showing a tight pattern, and the current copper or a small decline
.
