echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper opened low and fluctuated and then rushed up to a high level The overall trading volume of the market is better

    Shanghai copper opened low and fluctuated and then rushed up to a high level The overall trading volume of the market is better

    • Last Update: 2022-12-22
    • 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 volatile after rushing to a high level, the main monthly 2110 contract opened at 68680 yuan / ton, the highest intraday 69610 yuan / ton, the lowest 68270 yuan / ton, settled 68960 yuan / ton, closed 69300 yuan / ton, up 340 yuan
    .
    The trading volume of the main 2110 contract of Shanghai copper increased by 50,327 lots 146092 lots throughout the day, and the position volume of 123131 lots increased by 2,593 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated upward, and the latest quotation at 15:01 Beijing time was 9367 US dollars / ton, up 97 US dollars, or 1.
    05%.

    In terms of the market, today's domestic spot copper prices fell, 1# copper price was 68920 yuan / ton, down 410 yuan, premium 70-130; Guangdong spot 1# copper price was reported at 68870 yuan / ton, down 490 yuan; Yangtze River spot 1# copper 68990 yuan / ton, down 400 yuan, premium 130-liter 150; Shanghai spot 1# copper price was 68760 yuan / ton, down 510 yuan
    .

    In the spot market, the holders actively reduced the shipment for cash, the willingness of the receiving party to purchase only maintained rigid demand, the trading atmosphere was acceptable, and the overall trading volume was better
    .
    Although affected by the domestic southwest power cuts, refined copper production in August fell month-on-month, and copper inventories are still at a low level, but the downstream consumption willingness is not high, superimposed Henan is basically not affected by power cuts and the maintenance plan is in line with market expectations, short-term copper price volatility trend
    .

    In terms of news, domestic copper imports fell month-on-month, indicating that downstream consumer demand performed generally, and copper concentrate processing fees continued to rise, smelter profits continued to increase, raw material tensions eased, and spot copper prices are expected to 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.