echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper rose strongly, and the market was optimistic during the day

    Shanghai copper rose strongly, and the market was optimistic during the day

    • Last Update: 2022-12-29
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper rose strongly, the intraday market is optimistic, the main month 2301 contract opened at 65620 yuan / ton, the highest intraday 66050 yuan / ton, the lowest 65150 yuan / ton, settled 64790 yuan / ton, closed 65890 yuan / ton, up 1100 yuan, or 1.
    70%.

    Shanghai copper

    During the Asian session, London copper jumped and fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 8321 US dollars / ton, up 36 US dollars, or 0.
    43%.

    In terms of the market, today's domestic spot copper prices rose sharply, Yangtze River spot 1# copper 66460 yuan / ton, up 1000 yuan, liters 450-liters 490; The Yangtze River Comprehensive 1# copper price was reported at 66340 yuan / ton, up 990 yuan, and the premium was 290-410; Guangdong spot 1# copper price reported 66220 yuan / ton, up 990 yuan, premium 130-liter 330; Shanghai spot 1# copper price was 66330 yuan / ton, up 1010 yuan
    .

    In the spot market, the trading atmosphere has improved slightly, the enthusiasm of cargo holders has increased slightly, and the enthusiasm for downstream market inquiry has increased slightly, but the trading volume is limited
    .
    The Fed's dovish speech from Powell reinforced expectations of a slowdown in the pace of interest rate hikes, the dollar fell to its worst monthly performance, risk assets generally strengthened, and Shanghai copper was
    boosted.

    Domestic policy warm wind frequently blows to promote emotional recovery, coupled with overseas warm wind is conducive to the macro environment to improve, boost copper price trends, and domestic and foreign inventories continue to decline, domestic spot premium stabilized and rebounded, refined waste price spread falling, scrap copper substitution is limited, which is conducive to refined copper consumption, these positive factors resonance will support short-term prices, copper or rise
    .

    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.