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Shanghai copper trend is strong, there is support at the bottom

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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Today's Shanghai copper trend is strong, the main month 2011 contract opened at 51470 yuan / ton, the highest intraday 51680 yuan / ton, the lowest 51260 yuan / ton, settled 51430 yuan / ton, closed 51440 yuan / ton, up 500 yuan
.
The trading volume of the main 2011 contract of Shanghai copper was 63,402 lots, down by 79,776 lots, and the position increased by 48 to 103548 lots
.

Shanghai copper

During the Asian session, London copper ran at a high level, and the latest quotation at 15:10 Beijing time was 6740 US dollars / ton, up 70.
5 US dollars, or 1.
06%.

In terms of the market, today's domestic spot copper prices rose, Yangtze River nonferrous metal network 1# copper price was 51470 yuan / ton, up 290 yuan, premium 70-liter 130; Guangdong spot 1# copper price was 51400 yuan / ton, up 280 yuan; Yangtze River spot 1# copper price 51590 yuan / ton, up 300 yuan, premium 190-liter 230; Shanghai spot 1# copper price was 51565 yuan / ton, up 330 yuan
.

In the spot market, holders actively raised prices, downstream replenishment has not yet been reflected, and transactions are slightly cautious
.
Chile is again prone to strikes, the dollar index is weak, the market expects more stimulus measures in the United States, and there is support
at the bottom of copper prices.

At present, the two-way fluctuations of copper and aluminum high dominated by macro factors have increased, and it remains to be seen whether the traditional peak season expectations of gold nine silver and ten are falsified in fundamentals, and the medium line focuses on monetary and fiscal stimulus policy guidance
before the US election.

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