1. Prices Trend
The domestic copper price decreased slightly, with a quotation of 47,183.33RMB/t, 0.42% lower than that of the previous day, 2.03% lower than that of the beginning of the year, and 4.57% lower year on year.
2. Market Analysis
On the supply side, there have been frequent disturbances from the supply side of copper concentrate recently, among which a Chilean union leader supported the call for a 24-hour strike on November 12 in the fields of ports, mines, construction, retail, education and health care. However, in October, the supply of raw materials for copper mine was sufficient. Only Tongling Nonferrous Metals and Jiangxi Copper Industry overhauled the roughing link, and the refining output was not affected. On the demand side, with the policy increasing, the possibility of domestic economic stabilization has increased. At present, there are signs of improvement in the main areas of copper consumption, but it is still not obvious.
3. Prospects for the Future Market
Overall, copper analysts of Sunsirs believe that: influenced by the negative comments of the United States on China US economic and trade consultation, and domestic economic data shows that the pressure of stagflation is increasing. The whole atmosphere is not good. Supply and demand are weak, and it is estimated that copper prices will still be dominated by broad fluctuation.
Relevant listed enterprises: Jiangxi Copper Industry (600362), Tongling Nonferrous Metals (000630), Yunnan Copper Industry (000878).
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