Shanghai copper market dynamics on May 15: Shanghai copper opened lower today and then fluctuatedbestplay2earncryptogamesAt noon, the attempt to rush high was blocked and turned into shock consolidation. The opening price of the main monthly 2407 contract was 82300 yuan/ton, the intraday high was 82590 yuan/ton, and the lowest was 81220 yuan/ton. It was settled yesterday at 82140 yuan/ton, and today it closed at 82080 yuan/ton, down 60 yuan, down 0bestplay2earncryptogames.07%。The daily trading volume of the main 2407 contracts in Shanghai copper increased by 17474 lots to 123052 lots, and the open position increased by 20466 lots to 196934 lots.

Copper price statistics from Yangtze River Copper Network: Domestic spot copper prices fell today. Yangtze River spot copper price 1 #reported 81400 yuan/ton, down 250 yuan, discount 170-discount 130, down 150 yuan; Yangtze River Comprehensive 1 #copper price reported 81310 yuan/ton, down 305 yuan, discount 290-discount 190, down 205 yuan; Guangdong spot 1 #copper price reported 81220 yuan/ton, down 370 yuan, and discount 430-discount 230 fell 270 yuan; The price of 1 #copper in Shanghai reported 81310 yuan/ton, down 290 yuan, and the discount was 280-discount was 200 yuan, down 190 yuan.

Analysis of the copper market of Yangtze River Nonferrous Metals Network: During the Asian session, Luntong rose steadily. The latest offer at 15:01 Beijing time was US$10219/ton, up US$144/ton, or 1.42%. The transaction atmosphere in the spot market is general. Holders follow the order and report a premium, and the premium on the 2406 contract has expanded. The Yangtze River spot premium reaches 170-130 yuan. Receivers are cautious when entering the market for inquiries, and often delisted from the market and wait and see after the demand is saturated. Due to weak market demand, it is difficult to support interest in continuing buying, overall market transactions appear relatively flat. Both the U.S. dollar and U.S. bond yields have weakened, while Chinese policies continue to exert efforts, and supply shortages are still spreading. Driven by funding sentiment, copper prices are currently on a rising channel. However, with the upward trend of copper prices, positive factors have gradually been absorbed by the market, and the industry is gradually entering the off-season, and high copper prices are facing certain risk of correction. Coupled with the continued weakness of spot market trading, copper prices were suppressed under wait-and-see sentiment. Today, Shanghai copper showed a volatile and slight decline trend, and the price center of gravity was stable.

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