Original title: Yangtze River Nonferrous Metals: Copper prices fell on the 11th and the overall transaction was flat
June 11Shanghai CopperTrend: The trend of Shanghai copper fluctuated today, turning red in the afternoon. The main month 2107 contract opened at 71070 yuan/ton, the highest intraday was 71830 yuan/ton, the lowest was 71060 yuan/ton, the settlement was 71490 yuan/ton, and the closing price was 71,770 yuan/ton, up. 280 yuan. The trading volume of Shanghai Copper’s main 2107 contract increased by 40763 hands to 143036 hands throughout the day, and open interest decreased by 54 hands from 132,425 hands.
Copper price statistics on the Yangtze River Copper Network: Today, the domestic spot copper price fell, the Yangtze River Nonferrous Metals Network 1# copper price reported 70820 yuan/ton, down 530 yuan, a premium of 190-210 yuan; Guangdong spot 1# copper price reported 70620 yuan/ton, down 540 yuan; Changjiang spot 1# copper 70820 yuan/ton, down 530 yuan, premium of 190-210 yuan; Shanghai spot 1# copper price reported 70760 yuan/ton, down 520 yuan.
CCMN copper market analysis: During the Asian trading hours, the trend of LME copper fluctuated. The latest price at 15:01 Beijing time was 9984 US dollars/ton, an increase of 89 US dollars, an increase of 0.9%. In the spot market, merchants actively stock up before the holiday. Holders want to keep the price, while traders choose to stay on the sidelines. The overall transaction is flat. The U.S. dollar index is still oscillating around 90, and the domestic dumping of boots hits the ground, and the reserve inventory will be directly put into the terminal, which is expected to slow down the pace of subsequent social treasury destocking. Affected by the dumping of reserves, copper prices are under pressure, and copper fundamentals continue to weaken. Changjiang Nonferrous Metals Network www.ccmn.cn Tel: 0592-5668838
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