Today's Shanghai copper opened low and went low, the decline widened, the main monthly 2212 contract opened at 62730 yuan / ton, the highest intraday 62960 yuan / ton, the lowest 61850 yuan / ton, settled 63470 yuan / ton, closed 62060 yuan / ton, down 1410 yuan, down 2.
During the Asian session, London copper fluctuated downward, and the latest quotation at 15:01 Beijing time was 7490 US dollars / ton, down 68 US dollars, or 0.
In terms of the market, today's domestic spot copper prices fell, Yangtze River spot 1# copper 63870 yuan / ton, down 750 yuan, premium 370-liter 410; The Yangtze River Comprehensive 1# copper price was reported at 63930 yuan / ton, down 680 yuan, and the premium was 390-510; Guangdong spot 1# copper price reported 63990 yuan / ton, down 610 yuan, premium 410-liter 610; Shanghai spot 1# copper price was 63760 yuan / ton, down 760 yuan
The source of goods traded in the spot market is loose, the holders adjust the price of shipments, the receivers are afraid of high sentiment, and the transaction of low-priced sources is
Under the aggravation of macro bearish pressure, the trend of non-ferrous metals generally bottomed out, in addition to Shanghai lead, the decline was sharp, superimposed on domestic manufacturing data lower than expected, spot supply tended to ease, and the epidemic continued to suppress market sentiment, making people worry again about the metal demand outlook, Shanghai copper fell within the day to hold the line of 62,000 yuan
On the macro front, the US core PCE price index accelerated for the second consecutive month in September, and consumer inflation expectations climbed in October compared with September, the Federal Reserve will impose interest rate hikes, and the dollar index rebounded
Overall, the dollar index rebounded, slightly weighing on risk asset prices
From a fundamental point of view, the reduction of domestic and foreign warehouse receipt inventories and the high level of spot premiums will limit the room for price decline