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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper opened slightly higher and fluctuated strongly during the day

    Shanghai copper opened slightly higher and fluctuated strongly during the day

    • Last Update: 2022-12-26
    • Source: Internet
    • Author: User
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    Today's Shanghai copper opened slightly higher, the day was strong and volatile, the main month 2211 contract opened at 61070 yuan / ton, the highest intraday 61630 yuan / ton, the lowest 61050 yuan / ton, settled 61070 yuan / ton, closed 61260 yuan / ton, up 190 yuan, or 0.

    The trading volume of the main 2211 contract of Shanghai copper decreased by 29330 lots to 72287 contracts throughout the day, and the position volume of 143498 increased by 978 lots

    Shanghai copper

    During the Asian session, London copper rebounded at a low level, and the latest quotation at 15:01 Beijing time was 7506 US dollars / ton, up 44 US dollars, or 0.

    In terms of the market, today's domestic spot copper prices rose slightly, Yangtze River spot 1# copper 63250 yuan / ton, up 470 yuan, premium 680-liter 720; The Yangtze River Comprehensive 1# copper price was reported at 62970 yuan / ton, up 400 yuan, and the premium was 360-480; Guangdong spot 1# copper price reported 62680 yuan / ton, up 320 yuan, premium 30-230; Shanghai spot 1# copper price was 63120 yuan / ton, up 490 yuan

    The spot market after the holiday is mainly wait-and-see, and under the influence of high premium, the willingness to replenish downstream is weakened, and the trading activity is low
    The U.
    employment report is stronger than expected to strengthen aggressive interest rate hike expectations, the U.
    index remains firm, copper price trend performance is resistant, coupled with this week's squeeze factors slightly support copper prices, deep back strong reality weak expectation structure, copper prices may not have a bright performance

    Short-term copper prices are mainly driven by financial attributes, with a strong dollar, interest rate hikes and recession expectations all weighing on futures prices
    Fundamentally, the low domestic inventory and the recovery of peak season demand are based on strong reality
    The loose supply at the mine end and the reduction of smelter interference factors are expected to rebound refined copper production, which will restrict the rebound
    of copper prices.
    Therefore, short-term copper prices or weak oscillations are dominant

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