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    Home > Chemicals Industry > New Chemical Materials > The market is in a wait-and-see mood and the rally of Shanghai copper is limited

    The market is in a wait-and-see mood and the rally of Shanghai copper is limited

    • Last Update: 2022-12-26
    • Source: Internet
    • Author: User
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    Today's Shanghai copper opened low and rose slightly, the intraday rally was limited, the main monthly 2210 contract opened at 62020 yuan / ton, the highest intraday 62930 yuan / ton, the lowest 61960 yuan / ton, settled 62570 yuan / ton, closed 62600 yuan / ton, up 30 yuan, or 0.
    05%.

    The trading volume of the main 2210 contract of Shanghai copper decreased by 23254 lots to 89148 lots throughout the day, and the position volume 133173 decreased by 7242 lots
    .

    Shanghai copper

    During the Asian session, the London copper high fluctuated in a narrow range, and the latest quotation at 15:01 Beijing time was 7787 US dollars / ton, up 15 US dollars, or 0.
    19%.

    In terms of the market, today's domestic spot copper prices fell slightly, Yangtze River spot 1# copper 63450 yuan / ton, down 210 yuan, premium 820-liter 860; The Yangtze River Comprehensive 1# copper price was reported at 63370 yuan / ton, down 210 yuan, and the premium was 700-820; Guangdong spot 1# copper price reported 63290 yuan / ton, down 200 yuan, premium 580-liter 780; Shanghai spot 1# copper price was 63350 yuan / ton, down 170 yuan
    .

    In the spot market, the pattern of high premium water is not recognized by the market, the willingness of spot trading is suppressed, the receiver chooses to make up for the dip, and the overall trading volume declines
    .
    The Fed's interest rate hike expectations helped the dollar maintain a firm tone, coupled with the overall market wait-and-see sentiment, but copper supply and demand still supported, short-term copper prices into a dilemma
    .

    Industry news, September 19 news, due to the regulator after receiving a safety complaint on the site, the dispute between workers and Chile's Escondida copper mine, the world's largest copper mine, remains unresolved
    .

    Shanghai copper opened lower in early trading today, and the latest opening price of the main monthly 2210 contract was 62470 yuan / ton, down 100 yuan
    .
    Inventories are still tight, last week's copper stocks fell by 506 tons to 35,865 tons, bonded zone stocks were only 52,000 tons, the plate Back spread continued to widen, spot stocks were still in a state of high premium, LME copper stocks also continued to decline, and the premium also climbed to a high level, but downstream consumption did not show peak season characteristics, peak season expectations of insufficient support, the market focused on the Fed meeting, it is expected that the Fed may announce another 75 basis point interest rate hike at the meeting, copper is expected to hold steady
    .

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