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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper soared and fell back within the day, and it is difficult to have a bright performance in the short term

    Shanghai copper soared and fell back within the day, and it is difficult to have a bright performance in the short term

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    Today's Shanghai copper rushed back down, the main month 2110 contract opened at 69550 yuan / ton, the highest intraday 69710 yuan / ton, the lowest 68870 yuan / ton, settled 69380 yuan / ton, closed 69070 yuan / ton, down 310 yuan
    .
    The trading volume of the main 2110 contract of Shanghai copper was 77174 lots, a decrease of 25484 lots, and the position volume of 122433 lots decreased by 966 lots
    .

    Shanghai copper

    During the Asian session, London copper fluctuated and fell, and the latest quotation at 15:01 Beijing time was 9366 US dollars / ton, down 88 US dollars, or 0.
    93%.

    In terms of the market, today's domestic spot copper prices fell slightly, 1# copper price was 69670 yuan / ton, down 160 yuan, premium 80-140; Guangdong spot 1# copper price reported 69700 yuan / ton, down 50 yuan; Yangtze River spot 1# copper 69710 yuan / ton, down 160 yuan, premium 130-liter 150; Shanghai spot 1# copper price was 69590 yuan / ton, down 160 yuan
    .

    In the spot market, the holders mainly ship at high prices, the receiver is afraid of heights, the downstream only maintains just need to purchase, the overall transaction is quiet, and the transaction volume is significantly lower
    than yesterday.
    In August, domestic copper imports continued to decline, downstream consumer demand was not good, and in September the refinery has no maintenance plan, refined copper supply recovery is more obvious, but domestic copper stocks are still destocked, yesterday Shanghai copper warehouse receipt fell more than 1,000 tons, has fallen above 23,000 tons, short-term copper prices are difficult to shine
    .

    Data released by the General Administration of Customs on September 7 showed that China's copper imports continued to decline in August 2021 as high copper prices and slowing economic growth continued to curb demand
    .
    China's imports of unwrought copper and copper products were 394,017 tonnes in August, down 7% from July and the fifth consecutive month of decline
    .
    Compared to August 2020, China's copper imports decreased by 41%.

    In terms of news, the second round of the fourth batch of central ecological environmental protection inspectors was fully launched, some production enterprises have production links that need to be rectified, as well as the impact of limited electricity production, electrolytic copper production fell by 1.
    3% month-on-month, and domestic copper stocks continued to be destocked, and copper prices rose
    slightly.

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