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    Home > Chemicals Industry > New Chemical Materials > Weaker-than-expected demand recovery Shanghai copper continues its weak trend

    Weaker-than-expected demand recovery Shanghai copper continues its weak trend

    • Last Update: 2022-12-25
    • Source: Internet
    • Author: User
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    Today's Shanghai copper continued its weak trend, the main monthly 2206 contract opened at 71900 yuan / ton, the highest intraday 72040 yuan / ton, the lowest 71430 yuan / ton, settled 72170 yuan / ton, closed 71440 yuan / ton, down 730 yuan, down 1.
    01%.

    The trading volume of the main 2206 contract of Shanghai copper was 93092 contracts throughout the day, a decrease of 16227 lots, and the position volume of 155923 lots increased by 865 lots
    .

    Shanghai copper

    During the Asian session, London copper opened low and fluctuated downward, and the latest quotation at 15:01 Beijing time was 9281 US dollars / ton, down 107 US dollars, or 1.
    14%.

    In terms of the market, today's domestic spot copper prices continued to fall, Yangtze River spot 1# copper 72600 yuan / ton, down 340 yuan, premium 280-liter 320; Yangtze River nonferrous metal net 1# copper price reported 72550 yuan / ton, down 350 yuan, premium 220-liter 280; Guangdong spot 1# copper price reported 72360 yuan / ton, down 290 yuan, discount 60-liter 140; Shanghai spot 1# copper price was 72480 yuan / ton, down 365 yuan
    .

    In the spot market, traders are not very active in inquiry, the performance is mostly wait-and-see, the willingness to trade is suppressed, and the actual trading volume is average
    .
    Under the background of interest rate hikes, the market pessimistic atmosphere shrouded, the overall pressure on industrial metals weakened the trend of copper prices, coupled with the continuous increase in copper inventories, domestic demand recovery was weaker than expected, copper prices fell under pressure to a low of more than one and a half months
    .

    The Peruvian government postponed talks scheduled for Saturday with protesters protesting the Las Bambas copper mine because protesters took too long
    to respond.

    Shanghai copper opened low today, and the latest opening price of the Shanghai copper 2206 contract was 71650 yuan / ton, down 520 yuan
    .
    London copper stocks rebounded, the current stock of 170,025 tons, nearly tripled in the past few months, the highest level since October last year, which put pressure on copper prices, while domestic demand recovery is less than expected, mainly still hit by the epidemic, although the epidemic has improved, but still complex and severe repeated outbreaks and spreads, the impact on domestic economic and social development is great, of which the recovery of the real estate end is still slow, copper prices are under pressure, and copper is expected to fall
    .

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