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    Home > Chemicals Industry > New Chemical Materials > The main copper force gap opened low, and the overall performance of the market was cautious

    The main copper force gap opened low, and the overall performance of the market was cautious

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
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    On Tuesday, the main copper contract of Shanghai opened low at 41,860 yuan / ton, and the center of gravity briefly hovered at 42,020 yuan / ton.

    Subsequently, the long and short sides jointly suppressed copper prices, and the market fell sharply to the lowest point of the day of 41410 yuan / ton
    .
    Copper prices rebounded from the low, but the upward momentum was limited, and after falling more than 200 yuan / ton, it fluctuated sideways around 41590 yuan / ton, closing at 41540 yuan / ton
    at midday.
    After a slight decline in copper prices at the opening in the afternoon, the short flat pushed up copper prices slightly to 41690 yuan / ton, and the copper price fell again at the end of the day, closing at 41440 yuan / ton, down 960 yuan / ton, down 2.
    26%.

    Copper period

    Externally, Apanlon copper opened at 5155 US dollars / ton, after the opening price rose to 5182 US dollars / ton in the short term, dragged down by the collapse of crude oil overnight, copper prices fell below the daily moving average, the center of gravity quickly moved down to around 5110 US dollars / ton, and maintained a narrow range of 5100-5110 US dollars shock consolidation
    .
    After entering the European session, the U.
    S.
    crude oil main June contract continued to fall, piercing the $20 mark downward, testing down at $11.
    79 / barrel, and the rise in risk appetite caused copper prices to fall again, finally breaking the $5,100 mark, and the low level fell to $5,041.
    5 / ton
    .
    As of 17:00, London copper closed at $5055.
    5/ton, down $120/ton, or 2.
    14%.

    Overnight crude oil prices suffered a heavy setback, the U.
    S.
    crude oil contract for the first time negative value, triggering the market's pessimistic expectations for demand, the overall trend of commodities is still weak, copper prices plummeted back to 42,000 yuan / ton below as low as 41,700 yuan / ton
    .
    The fall in copper prices attracted some downstream buyers, the market continued yesterday's quotation premium 130 ~ 150 yuan / ton, the market inquiry enthusiasm is high, the low-price source of goods transaction is positive, flat water copper premium 140 yuan / ton below the price can be pressed 5-10 yuan / ton there is a transaction, good copper quotation in the premium 150 ~ liter 160 yuan / ton, the transaction is inferior to flat water copper
    .
    Wet copper is stable at 100 ~ 110 yuan / ton
    of premium.
    With the decline in the market, holders continued to be willing to hold prices, premium quotations were temporarily stable and there was little room for further decline, traders stopped due to lack of profit margins, and the market was generally cautious
    in the context of a dangerous and uncertain external environment.

    The main contract of Shanghai copper opened low and downward during the day, mainly dragged
    down by international crude oil prices.
    During the day, the last trading day of the May WTI crude oil futures contract, contract holders sold off sharply, but the limited storage space and the lack of participants with storage capacity in the market caused the May contract price to plummet, which also negatively
    affected the June crude oil contract price.
    Investor sentiment was dampened, dragging down copper prices
    .
    In addition, the National Bureau of Statistics announced China's refined copper production in March, down 2.
    5 percentage points from the same period last year, indicating that China's copper smelting and production activities were indeed affected
    by the epidemic.
    Concerns about tight copper supply have not eased, which has provided some support
    to copper prices.
    Shanghai copper closed lower during the day, having given up gains in the previous two trading days, and the 40-day moving average was under pressure above
    .

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