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Trade Service
Shanghai copper opened low today, and the latest opening price of the Shanghai copper 2205 contract was 73350 yuan / ton, down 210 yuan
.
The epidemic situation in Shanghai continued to escalate, and the city-wide lockdown continued to be implemented to curb the spread of the epidemic, and the spot market was affected by this to show a state of priceless market, the reality of demand weakened, copper prices were under pressure, and copper was expected to fall
slightly.
In terms of the market, as of April 8, Yangtze River spot 1# electrolytic copper 73860-73900 yuan / ton, the average price was 738800 yuan / ton, down 10 yuan from the previous trading day, 240-280
liters.
On April 7, the total stock of London copper was reported at 101275 tons, up 6,350 tons, compared with 93,121 tons in the week of April 1, down 8,934 tons
.
The aggravation of the epidemic situation in Shanghai, the epidemic prevention blockade, the liquidity of the spot market, the warehouse is closed, the supply is small, resulting in high premium in the surrounding market, copper demand in many places is constrained by logistics conditions, receiving and shipping are not smooth, superimposed high copper prices inhibit transactions, multi-day trading performance is weak, scrap copper market performance is slightly differentiated
.
The epidemic situation in Shanghai continues to intensify, there is no favorable inflection point, there are still more new people every day, epidemic prevention and control is also strictly underway, as a domestic copper inventory concentration, logistics and transportation are blocked, supply is limited
.
Coupled with hawkish speeches in the minutes of the Federal Reserve, the dollar index and US Treasury yields are on the strong side, copper prices have fallen sharply yesterday and slightly
lowered today.
