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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper volatility rose slightly, and the overall trading of the market was light

    Shanghai copper volatility rose slightly, and the overall trading of the market was light

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    On Wednesday, the main 2102 contract of Shanghai copper rose slightly, with the highest 58680 yuan / ton and the lowest 58060 yuan / ton within the day, and the closing price of 58480 yuan / ton, up 0.
    52% from the closing price of the previous trading day; In the external market, LME copper rose slightly, as of 15:00 Beijing time, 3-month London copper was reported at 7889.
    5 US dollars / ton, up 0.
    88%
    per day.

    Shanghai copper

    Market focus: (1) On the 29th local time, 53,135 new confirmed cases of new crowns in the UK reached a new high, and the existing confirmed cases exceeded 2.
    31 million
    .
    UK extends four-tier restrictions
    .
    (2) The LasBambas copper mine in Peru will result in the transportation of copper concentrate and personnel to and from the mine due to lockdown protests, which was originally planned to produce between 350,000 tons and 370,000 tons of copper concentrate in 2020, accounting for about 2% of the world's
    projected production.

    Spot analysis: On December 30, spot 1# electrolytic copper quotation 58010-58170 yuan / ton, the average price of 58090 yuan / ton, down 440 yuan / ton
    per day.
    Yangtze River Nonferrous Metal reported that the receiver was more cautious, and the downstream just needed to buy at a low price, and the overall transaction was light
    .

    Warehouse receipt inventory: Shanghai copper warehouse receipts totaled 30,880 tons on Wednesday, a daily decrease of 221 tons; On December 29, LME copper stocks were 113975 tons, down 2,125 tons per day, down 14 consecutive days
    .

    Main positions: the top 20 long positions of Shanghai copper main 2102 contract are 75541 lots, minus 1230 lots, short positions are 79780 lots, daily minus 1515 lots, net short positions are 4239 lots, daily minus 285 lots, long and short are reduced, net space is reduced
    .

    Market research and judgment: Shanghai copper 2102 oscillation rose
    slightly on December 30.
    The outbreak of the epidemic in the UK after Christmas, and the variant virus has been detected in other countries, the worsening epidemic situation has hit market risk sentiment
    .
    The upstream domestic copper mine supply is tight, the domestic copper mine inventory is low, and the copper mine processing fee TC has been slightly lowered recently, making the smelting cost high, but the import of scrap copper in November increased sharply, and the raw material tension situation may improve; Downstream market demand maintained good performance, Shanghai copper inventories remained low, and there was limited
    space below copper prices.
    Technically, the Shanghai copper 2102 contract contraction and position reduction converged and fluctuated, focusing on the 20-day moving average support, and it is expected that the short-term shock adjustment
    .

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