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    Home > Chemicals Industry > New Chemical Materials > Shanghai copper was weak and volatile during the day, and the overall consumption performance of the market was cold

    Shanghai copper was weak and volatile during the day, and the overall consumption performance of the market was cold

    • Last Update: 2022-12-26
    • Source: Internet
    • Author: User
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    Today's Shanghai copper intraday weak shock, the end of the close rebound pulled up, the main month 2212 contract opened at 65330 yuan / ton, the highest intraday 65850 yuan / ton, the lowest 64950 yuan / ton, settlement 65580 yuan / ton, closed 65780 yuan / ton, up 200 yuan, or 0.
    30%.

    Shanghai copper

    During the Asian session, London copper bottomed out, and the latest quotation at 15:01 Beijing time was 7965 US dollars / ton, up 16 US dollars, or 0.
    20%.

    In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 66390 yuan / ton, down 140 yuan, premium 20-liter 60; The Yangtze River Comprehensive 1# copper price was reported at 66410 yuan / ton, down 120 yuan, and the premium was 0-120; Guangdong spot 1# copper price was reported at 66430 yuan / ton, down 100 yuan, discount 20-liter 180; Shanghai spot 1# copper price was 66280 yuan / ton, down 120 yuan
    .

    In the spot market, the shipment of cargo holders is not smooth, the willingness to receive goods downstream has declined, the overall consumption performance is cold, and the transaction volume has declined
    .
    Investors took profits, copper prices fell overnight, but macro sentiment tended to ease, the dollar index continued to fall, superimposed on global explicit inventories are still declining, continued copper prices to provide support, intraday Shanghai copper fell in the rebound
    .

    Industry news, Codelco finalized the premium of copper long orders sent to the Chinese market in 2023 at $140/ton; CNMC: CNMC Indonesia, its holding subsidiary, signed the "Construction Contract for the First Tender Section of the Oman Copper Smelting Project in Indonesia" with 15th Metallurgical Indonesia; Gansu Province plans to sign 34 copper concentrate and other projects at the Expo, with a value of 3 billion US dollars; Chujiang New Material: At the end of the 14th Five-Year Plan, a scale of more than 1 million tons of copper-based materials was formed
    .

    In terms of news, the domestic October import and export data was lower than expected, which is also the first simultaneous decline since May 2020, because the surge in inflation and the Fed and other central bank interest rate hikes hit global demand, the real estate market is still sluggish, private data show that house prices and sales have declined, construction and household wiring accounted for a large proportion of copper demand, downstream to remain wait-and-see, and unwilling to take goods, but Shanghai copper because of the exchange rate is relatively strong, copper or limited rise and fall
    .

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