On December 16, 2020, China's copper price rises, and holders actively dump goods

Shanghai copper trend on December 16

Today, Shanghai copper on the strong run, the main May 2101 contract opened at 57,730 yuan / ton, the highest intraday 58,190 yuan / ton, the lowest 57,510 yuan / ton, the settlement 57,850 yuan / ton to close at 57,850 yuan / ton, up 270 yuan. The trading volume of Shanghai Copper's main 2101 contract throughout the day increased by 15,138 hands by 109,766 hands, and open interest decreased by 4252 to 88,776 hands.

Today, the domestic spot copper price rose, the Yangtze River Nonferrous Metals Net 1# copper price reported 57920 yuan/ton, an increase of 460 yuan, a discount of 110-50 discount; Guangdong spot 1# copper price reported 58055 yuan/ton, an increase of 505 yuan; Yangtze River spot 1 #Copper price 57980 yuan/ton, up 470 yuan, discount 40-discount 20; Shanghai spot 1# copper price reported 57875 yuan/ton, up 455 yuan.

During the Asian trading hours, London copper oscillated. The latest price at 15:00 Beijing time was $7807.5/ton, up $0.5, or 0.01%. In the spot market, holders are actively dumping goods, there are fewer market inquiries, and downstream consumption is weak. China's economic operation continues to recover, and the introduction of vaccines in some major countries has boosted the market. Goldman Sachs said that China's demand is strong and copper prices continue to remain high.