echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai Copper Shock Falls The market still holds a wait-and-see attitude

    Shanghai Copper Shock Falls The market still holds a wait-and-see attitude

    • 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 shock fell, the main month 2110 contract opened at 69500 yuan / ton, the highest intraday 69600 yuan / ton, the lowest 68560 yuan / ton, settled 69270 yuan / ton, closed 68590 yuan / ton, down 680 yuan
    .
    The trading volume of the main 2110 contract of Shanghai copper decreased by 10147 101725 lots throughout the day, and the trading volume of 130837 24 contracts increased by 1805 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated lower, and the latest quotation at 15:01 Beijing time was 9283 US dollars / ton, down 61 US dollars, or 0.
    66%.

    In terms of the market, today's domestic spot copper prices fell, Yangtze River non-ferrous metal network 1# copper price was reported at 69400 yuan / ton, down 370 yuan, premium 200-liter 260; Guangdong spot 1# copper price was reported at 69440 yuan / ton, down 340 yuan; Yangtze River spot 1# copper 69450 yuan / ton, down 350 yuan, premium 260-liter 280; Shanghai spot 1# copper price was 69340 yuan / ton, down 270 yuan
    .

    In the spot market, the willingness of holders to adjust prices is general, and the downstream continues to fear heights, still holding a wait-and-see attitude, trading is deadlocked, and the overall transaction is weak
    .
    The news of the increase in supply at the mine end in Chile is frequent, the pressure on the domestic raw material side has eased, some processing enterprises are preparing to resume production, and the real estate investment is strictly controlled by national policies, and copper prices have stopped rebounding
    in the short term.

    Industry highlights, Codelco's Andina Mine Supervisores union agreed to a new pay deal
    .
    Australian mining company Newcrest Mining has approved a feasibility study and early engineering plan to invest in the Cadia Gold-Copper Mine Expansion Project, with early work commencing in the fourth quarter of this year and feasibility studies to be completed
    in the third quarter of 2022.

    The policy strictly controls the impact on real estate investment, and with the pressure on the raw material end has eased, some processing enterprises are ready to resume production, and with the recent continuous rise in copper prices, it has restricted downstream consumption, while easing the pressure of copper scrap, and copper prices have risen and fallen limitedly
    .

    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.