Foreign LME copper jumped higher Monday at 7376.25 yuan/ton, driven by sharp rises in US stocks. Copper prices rose sharply during the US session, with a maximum of 7753 yuan/ton, followed by a slight decline, closing at 7434.75 yuan/ton. The increase was 2.27%. On Monday, LME stocks fell by 1950 tons to 392,775 tons, and the cancellation of warehouse receipts was 7.42%, a slight decrease, but remained high.
Looking back at the domestic market, Shanghai copper opened slightly lower at 55,200 yuan/ton today. Shanghai copper oscillated on a flat plate in intraday trading. Shanghai copper fell at a straight line due to the impact of stocks at the end of the session. The lowest price dropped below RMB54,850/ton, and then rebounded to the consolidation range. The lunch was reported. Received 55,130 yuan / ton, a daily decline of 0.27%. Shanghai Copper’s current position continues to rise, and the trading volume has dropped significantly. It can be seen that the consolidation of copper prices has caused the market to wait and see. In the domestic spot market, today's Changjiang spot price is 56550-56700 yuan/ton, Pingshui copper premium is 500 yuan/ton, and premium copper premium is 650 yuan/ton. In the morning session, Shanghai copper fluctuate widely and it is reported that most businesses in the market are still cautious about the short-term copper price trend. Due to weak demand, the overall transaction has not changed significantly.
On the disk, the price of copper fell sharply yesterday evening. Today, the price of copper remains near 55,000, which is still suppressed by the 10th. However, the sharp rise in spot prices in China last week still requires us to pay more attention, and new orders are still empty or waiting. On the list, it is recommended that the short-term holdings remain.
Looking back at the domestic market, Shanghai copper opened slightly lower at 55,200 yuan/ton today. Shanghai copper oscillated on a flat plate in intraday trading. Shanghai copper fell at a straight line due to the impact of stocks at the end of the session. The lowest price dropped below RMB54,850/ton, and then rebounded to the consolidation range. The lunch was reported. Received 55,130 yuan / ton, a daily decline of 0.27%. Shanghai Copper’s current position continues to rise, and the trading volume has dropped significantly. It can be seen that the consolidation of copper prices has caused the market to wait and see. In the domestic spot market, today's Changjiang spot price is 56550-56700 yuan/ton, Pingshui copper premium is 500 yuan/ton, and premium copper premium is 650 yuan/ton. In the morning session, Shanghai copper fluctuate widely and it is reported that most businesses in the market are still cautious about the short-term copper price trend. Due to weak demand, the overall transaction has not changed significantly.
On the disk, the price of copper fell sharply yesterday evening. Today, the price of copper remains near 55,000, which is still suppressed by the 10th. However, the sharp rise in spot prices in China last week still requires us to pay more attention, and new orders are still empty or waiting. On the list, it is recommended that the short-term holdings remain.
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