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    Home > Chemicals Industry > New Chemical Materials > The external market was closed due to bank holidays, and the domestic copper performance resisted the decline

    The external market was closed due to bank holidays, and the domestic copper performance resisted the decline

    • Last Update: 2022-12-16
    • Source: Internet
    • Author: User
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    On Monday, the main Shanghai copper contract 1910 opened at 45980 yuan / ton in the morning, and the opening fell to the lowest level of 45840 yuan / ton in the day, and then immediately rebounded to around 46060 yuan / ton until the end of the afternoon, the center of gravity continued to maintain stability at this position in the afternoon, until the close, closing at 46020 yuan / ton, down 290 yuan / ton, or 0.
    63%.

    Copper period

    In terms of external trading, the LME is closed due to the summer bank holiday in the UK
    .

    The intraday market continued to maintain a low level of volatility, mainly due to the continued deterioration of trade tensions, strong risk aversion in the market, CMX gold hit a new five-year high of 1565 US dollars / ounce, the US dollar is still relatively high, and non-ferrous metals are also suppressed
    .
    Market pessimism spread, and copper prices hovered
    low below the daily moving average all day.

    In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 50 ~ 100 yuan / ton, a flat water copper trading price of 45990 yuan / ton ~ 46090 yuan / ton, and a premium copper trading price of 46010 yuan / ton ~ 46120 yuan / ton
    。 Last Friday, the Sino-US trade situation deteriorated again, copper prices fell sharply, Shanghai copper fell below the 46,000 yuan / ton mark to test the lower 45,820 yuan / ton, the morning low has risen to 45,950 yuan / ton line, the long order has basically come to an end, most of the market has shown the next month's invoice quotation, next month's invoice holders reported a premium of 60 ~ 90 yuan / ton, the premium is high, it is difficult to attract traders into the market, flat water copper led the downward adjustment, the transaction was about 60 yuan / ton, good copper premium 80 yuan / ton, It is difficult to have a large price reduction space, and the invoice price of wet copper next month is at the level of 30 yuan / ton of premium
    .

    The merchants who complete the long order on the last day and some downstream of the bargain replenishment still need the invoice of the month, the price difference between the invoice issued in the current month and the invoice of the next month is in the range of 10-20 yuan / ton, and the quotation of individual holders of good copper can be as high as 100 yuan / ton, and the price of flat water copper ticket premium of 70 yuan / ton is around
    。 The market is closed for bank holidays, the domestic Shanghai copper performance resisted the decline, and gradually recovered the decline after the morning low, and the afternoon market has returned to the 46,000 yuan / ton line, but the market risk aversion is still strong, downstream enterprises are afraid of falling, only a moderate amount of bargain replenishment, and traders in the face of high premiums continue to be difficult to buy and sell the operation, so although the market inquiry atmosphere is lively, but the actual trading activity is still limited
    .
    In the afternoon, the market has fully turned to the next month's ticket quotation, because the current plate price is at a low level, the market transaction activity is acceptable, and the market quotation will remain high after the next month's ticket change, with little change
    .

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