pennslammeriii3500spinningreel| Yangtze River Nonferrous Metals: Copper prices rose slightly on the 27th and the transaction was not satisfactory

Shanghai copper market dynamics on May 27pennslammeriii3500spinningreel: Today, Shanghai copper fluctuated, with repeated market shocks. At the end of the session, it was weak and closed down. The opening price of the main monthly 2407 contract was 83750 yuan/ton, with the intraday high of 84170 yuan/ton and the lowest of 83450 yuan/ton. Yesterday's settlement was 83860 yuan/ton. Today's closing was 83530 yuan/ton, down 330 yuan, down 0pennslammeriii3500spinningreel.39%。The daily trading volume of the main 2407 contracts in Shanghai copper decreased by 71448 lots from 109092 lots, and the open position of 207941 lots decreased by 3076 lots.

Copper price statistics from Yangtze River Copper Network: Domestic spot copper prices rose slightly today. Yangtze River spot copper price 1 #reported 83510 yuan/ton, up 150 yuan, discount 160-discount 120, up 60 yuan; Yangtze River Comprehensive 1 #copper price reported 83445 yuan/ton, up 110 yuan, discount 260-discount 150, up 20 yuan; Guangdong spot 1 #copper price reported 83410 yuan/ton, up 40 yuan, discount 340-discount 140, down 50 yuan; The price of 1 #copper in Shanghai reported 83420 yuan/ton, up 150 yuan, with a discount of 270-a discount of 190, up 60 yuan.

Analysis of the copper market of Yangtze River Nonferrous Metals Network: During the Asian session, Monday is a British holiday, LME is closed, and there is no futures market transaction information.

In the spot market, the trading atmosphere has become increasingly deserted, and spot premiums are still running in the low range. Holders are facing the pressure of inventory backlog, but are unwilling to reduce prices to sell. Downstream companies have a strong fear of heights and only maintain bargain hunting. The overall consumer demand is very limited, and the transaction volume is not satisfactory.

High inflation and strong economic data in the United States, as well as the hawkish stance of Federal Reserve officials, have jointly weakened the market's bets on interest rate cuts, causing the Shanghai copper market to face selling pressure and cooling market risk appetite. In addition, the risk of squeeze in refined copper in the United States has dropped somewhat, the turning point of inventory has not yet arrived, and Shanghai copper has been under pressure and adjusted back. However, today's weak US dollar and the surge in demand for copper mines in the global energy transition have provided strong support for copper prices. Therefore, although copper prices in the futures market fell, spot copper prices did not follow suit, but rose slightly. At present, there is a fierce game between long and short forces in the Shanghai copper market, and price trends continue to fluctuate.

Changjiang Nonferrous Metals Network www.ccmn.cn Tel: 0592-5668838