echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Shanghai copper weak operation The overall trading volume of the market is still light

    Shanghai copper weak operation The overall trading volume of the market is still light

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Today's Shanghai copper weak operation, the main month 2208 contract opened at 61400 yuan / ton, the highest intraday 61880 yuan / ton, the lowest 60630 yuan / ton, settlement 62590 yuan / ton, closed 60660 yuan / ton, down 1930 yuan, down 3.
    08%.

    The trading volume of the main 2208 contract of Shanghai copper decreased by 24,953 lots 152453 the whole day, and the position volume 154283 increased by 2,781 lots
    .

    Shanghai copper

    During the Asian session, the narrow range of London copper volatility was weak, and the latest quotation at 15:01 Beijing time was 7980 US dollars / ton, down 75 US dollars, or 0.
    94%.

    Today's domestic spot copper prices plummeted, Yangtze River spot 1# copper 61750 yuan / ton, down 1410 yuan, premium 190-liter 230; The Yangtze River Comprehensive 1# copper price was reported at 61650 yuan / ton, down 1400 yuan, and the premium was 50-170; Guangdong spot 1# copper price reported 61550 yuan / ton, down 1380 yuan, discount 120-liter 80; Shanghai spot 1# copper price was 61630 yuan / ton, down 1460 yuan
    .

    In the spot market, the transaction situation showed a downward trend, the weakening of downstream consumption led to low enthusiasm for trading, and the receivers were mainly cautious and wait-and-see, buying
    quietly.
    The global central bank's aggressive interest rate hikes and recession fears persisted, and the supply gradually abundant and Shanghai-London copper inventories rose to a high level, coupled with domestic demand still weak, the center of gravity of Shanghai copper continued to break
    downward.

    Shanghai copper opened lower today, and the latest opening price of the Shanghai copper 2208 contract was 61220 yuan / ton, down 1370 yuan
    .
    Chile's copper production in May was 480275 tons, up 13.
    88% month-on-month, and the increase in supply of copper mines in Africa is expected to increase, domestic smelters are stimulated by high profits to actively resume production, copper production continues to strengthen, making sufficient supply coupled with poor downstream consumption, the overall transaction is still light, spot quotations continue to fall, and copper is expected to fall
    .
    Today's copper price may stabilize at 61000-63500
    .

    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.