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Shanghai copper rebounded from a low level and maintained range-bound volatility overall

 Last Update: 2022-12-02
 Source: Internet
 Author: User

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1.
Summary of copper prices in major domestic cities

market	name of article	Material	Price range		Change	remark
Guangdong spot	1# Copper	1 #	35650-35850	Yuan/ton	-170	Tax included
Shanghai spot	1# Copper	1 #	35740-35920	Yuan/ton	-90	Tax included
Shanghai spot	Flat water copper		35740-35900	Yuan/ton	-80	Tax included
Shanghai spot	Liters of copper		35760-35920	Yuan/ton	-90	Tax included
Shanghai	1# Copper	1 #	35700-35800	Yuan/ton	-150	Tax included
Foshan spot	1# Electrolytic copper plate	1 #	33200-33400	Yuan/ton	-200	Tax not included
Jinan spot	1# Copper	1 #	35800-35800	Yuan/ton	-150	Tax included
Shenyang spot	1# Copper	1 #	35900-35900	Yuan/ton	-150	Tax included
Beijing spot	1# Copper	1 #	35850-35850	Yuan/ton	-150	Tax included
Tianjin spot	1# Copper	1 #	35850-35850	Yuan/ton	-150	Tax included
Wuxi spot	1# Copper	1 #	35850-35850	Yuan/ton	-150	Tax included
Xi'an spot	1# Copper	1 #	35900-35900	Yuan/ton	-150	Tax included
Chongqing spot	1# Copper	1 #	35900-35900	Yuan/ton	-150	Tax included
Guangzhou spot	1# Copper	1 #	35920-35920	Yuan/ton	-170	Tax included
Wuhan spot	1# Copper	1 #	35850-35850	Yuan/ton	-150	Tax included
Kunming spot	1# Copper	1 #	35950-35950	Yuan/ton	-150	Tax included

market name of article Material Price range Change remark Guangdong spot 1# Copper 1# 35650-35850 Yuan/ton -170 Tax included Shanghai spot 1# Copper 1# 35740-35920 Yuan/ton -90 Tax included Shanghai spot Flat water copper 35740-35900 Yuan/ton -80 Tax included Shanghai spot Liters of copper 35760-35920 Yuan/ton -90 Tax included Shanghai 1# Copper 1# 35700-35800 Yuan/ton -150 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton -200 Tax not included Jinan spot 1# Copper 1# 35800-35800 Yuan/ton -150 Tax included Shenyang spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Beijing spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Tianjin spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Wuxi spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Xi'an spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Chongqing spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Guangzhou spot 1# Copper 1# 35920-35920 Yuan/ton -170 Tax included Wuhan spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Kunming spot 1# Copper 1# 35950-35950 Yuan/ton -150 Tax included market name of article Material Price range Change remark Market market Product name, product name Material material Price RangePrice Range Ups and downs Remarks Note: Remarks Guangdong spot 1# Copper 1# 35650-35850 Yuan/ton -170 Tax included Guangdong spot 1# Copper 1# 35650-35850 Yuan/ton -170 Tax included Shanghai spot 1# Copper 1# 35740-35920 Yuan/ton -90 Tax included Shanghai spot 1# Copper 1# 35740-35920 Yuan/ton -90 Tax included Shanghai spot Flat water copper 35740-35900 Yuan/ton -80 Tax included Shanghai spot Flat water copper 35740-35900 Yuan/ton -80 Tax included Shanghai spot Liters of copper 35760-35920 Yuan/ton -90 Tax included Shanghai spot Liters of copper 35760-35920 Yuan/ton -90 Tax included Shanghai 1# Copper 1# 35700-35800 Yuan/ton -150 Tax included Shanghai 1# Copper 1# 35700-35800 Yuan/ton -150 Tax included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton -200 Tax not included Foshan spot 1# Electrolytic copper plate 1# 33200-33400 Yuan/ton -200 Tax not included Jinan spot 1# Copper 1# 35800-35800 Yuan/ton -150 Tax included Jinan spot 1# Copper 1# 35800-35800 Yuan/ton -150 Tax included Shenyang spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Shenyang spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Beijing spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Beijing spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Tianjin spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Tianjin spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Wuxi spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Wuxi spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Xi'an spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Xi'an spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Chongqing spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Chongqing spot 1# Copper 1# 35900-35900 Yuan/ton -150 Tax included Guangzhou spot 1# Copper 1# 35920-35920 Yuan/ton -170 Tax included Guangzhou spot 1# Copper 1# 35920-35920 Yuan/ton -170 Tax included Wuhan spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Wuhan spot 1# Copper 1# 35850-35850 Yuan/ton -150 Tax included Kunming spot 1# Copper 1# 35950-35950 Yuan/ton -150 Tax included Kunming spot 1# Copper 1# 35950-35950 Yuan/ton -150 Tax included

2.
Market review

Today's Shanghai copper bottomed out and rebounded, the overall intraday market maintained range volatility, the current month 1704 contract opened at 36250 yuan / ton, as of 15:00 pm, the latest price is 36070 yuan / ton, up 30 yuan; The lowest price within the day was 35880 yuan / ton, and the highest price was 36300 yuan / ton
.
The main opening price of Shanghai copper was 36090 yuan / ton, and as of 15:00 p.
m.
, the latest price was 35900 yuan / ton, up 60 yuan; The lowest price within the day was 35620 yuan / ton, and the highest price was 36210 yuan / ton
.

Shanghai copper

Externally, today's LME copper contract fell during the Asian trading session, dragged down by expectations that a possible interest rate hike in the United States in the next two months will boost the dollar, and copper prices are expected to record their worst performance
in half a year.
Analysts believe that the demand situation is bad and that if the dollar appreciates, it will be enough to drag prices down
.
In an environment where the dollar is strong and Asian economic growth is difficult to bottom, copper prices will fall to $
4400.
Three-month copper on the London Metal Exchange (LME) rose 0.
32% to $
4,677 a tonne.
Copper prices are expected to rise 1.
7% on a weekly basis, narrowing their cumulative decline since May to 8%, but still recording their worst monthly performance
in half a year.
Next Monday the UK coincides with the spring bank holiday and the London Metal Exchange is closed
.

3.
Overview of the domestic copper market

On the macro front, abroad, the number of initial jobless claims in the United States fell more than expected in the week and returned to cyclical lows, indicating that the US labor market continues to hold steady, the expectation of an early interest rate hike by the Federal Reserve has risen again due to improved economic conditions, the short-term commodity market sentiment is cautious, and the base metals market such as copper and aluminum will still be affected
.
Domestically, investors are worried that the end of the seasonal consumption season in China's copper market may affect future demand, the market awaits the release of China's manufacturing PMI data next Wednesday, which may bring new guidance to the copper market, short-term market sentiment is still cautious, and the copper consolidation pattern is expected to continue
.

In terms of the market, today's Shanghai electrolytic copper spot reported a premium of 50 yuan / ton - 80 yuan / ton, flat water copper trading price of 35740 yuan / ton - 35900 yuan / ton, liter copper trading price of 35760 yuan / ton - 35920 yuan / ton
.
Shanghai copper rebounded
low during the day.
Despite the increasing supply in the market, the current price of copper premium is still strong, and today's market conditions are more inquired and less transacted
.
After a continuous rebound, the premium has not fallen, and it is difficult to attract traders or downstream buyers
.
Before the close of the afternoon market, the market rose rapidly, and some holders lowered the premium for cash, but the quotation of flat water copper remained firm, and it was difficult for the market to find a low price source
.
Weekend deals were generally lower than yesterday's
.

4.
Copper closing situation

Today, after the opening of crude oil diving, Shanghai copper was affected and fell, 1607 contract to the lowest 35620 yuan / ton, then crude oil stabilized, ferrous metal rebounded, Shanghai copper low level rebounded, the end of the slight shock pullback, 1607 finally closed 35910 yuan / ton, up 70 yuan / ton, up 0.
20%.

The total position of Shanghai copper increased by 2,550 lots to 760,000 lots, with a total transaction of 630,000 lots, of which 1608 contracts increased their positions by 21,604 lots, and the long and short positions in the far month were relatively
deadlocked.
Today's Shanghai copper main force to test the low and rebound, many 20-day line out to make up for the exit, far month increased positions obviously, the rebound pattern is dangerous, continue to test the pressure
at the 20-day line in the evening.

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