On December 15, 2020, China's copper prices fell, market transactions and investment were flat
Shanghai copper trend on December 14
Today, the trend of Shanghai copper fluctuated. The main month 2101 contract opened at 57770 yuan/ton, the highest intraday was 57870 yuan/ton, the lowest was 57350 yuan/ton, the settlement was 57580 yuan/ton, and the closing price was 57700 yuan/ton, which was flat. The trading volume of Shanghai Copper's main 2101 contract for the whole day decreased by 54628 hands by 54,618 hands, and open interest decreased by 5352 to 93028 hands.
Today, China’s spot copper prices fell, the Yangtze River Nonferrous Metals Net 1# copper price reported 57460 yuan/ton, down 540 yuan, a premium of 30-90 yuan; Guangdong spot 1# copper price reported 57550 yuan/ton, down 430 yuan; Yangtze River spot 1# copper price 57510 yuan/ton, down 510 yuan, discount of 20-discount 0; Shanghai spot 1# copper price reported 57420 yuan/ton, down 500 yuan.
CCMN Copper Market Analysis
During the Asian trading hours, LME copper was operating at a low level. The latest price at 15:00 Beijing time was US$7,759/ton, down US$21, or 0.27%. In the spot market, holders reduced premiums, downstream consumption was average, and market transactions were quiet. Copper concentrate processing fee TC continues to decline. Although mines will increase production next year, the profit margin of smelters is still limited. However, refined copper output is still picking up at the end of the year, and there is still support on the consumer side.
