SunSirs: Copper Prices Fell Slightly by 0.32% on Oct 23
October 24 2019 10:59:06 SunSirs (Linda)1. Prices Trend
China's copper price fell slightly, with a quotation of 47,036.67RMB/t, 0.32% lower than the previous day, 2.33% lower than the beginning of the year, and 3.55% lower than the previous year.
2. Analysis of quotations
On the basic level, there is interference at the mine end, copper mine is still tight, smelter has no maintenance, TC is slightly increased, refined copper supply is abundant, downstream grid investment is still expected, and demand will be improved. After the National Day holiday, the domestic community storage of refined copper has continued to accumulate, and the inventory in the bonded area has still been declining. On the macro level, the global macro situation is not good, causing demand side concerns.
3. Prospect for the future
According to the above situations, copper analysts of nonferrous branch in SunSirs believe that copper prices lack direction in the short-term operation, and the prices will mainly swing.
Relevant listed enterprises: Jiangxi Copper Industry (600362), Tongling Nonferrous Metals (000630), Yunnan Copper Industry (000878).
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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