Price trend

As shown in the figure above, copper prices fluctuated and fell this week. As of the end of this week, the spot copper price was 75,068.33 RMB/ton, down 0.63% from the price of 75,541.67 RMB/ton at the beginning of the week and up 9.14% year-on-year.

Analysis review

According to the weekly change chart of SunSirs, in the past three months, copper prices have risen for 8 weeks, fell for 3 weeks, and remained unchanged for 1 week. The overall trend of copper prices has been strong recently.

The LME market continued to be closed last Friday and this Monday. At present, demand has entered the traditional peak season, but the impact of the epidemic on transportation has put pressure on downstream copper production. Copper mines in overseas Peru and other places have strikes again, and the market's worries about the supply of copper mines have intensified. In addition, the processing fee has risen sharply before, and the output of domestic smelters has been affected by the epidemic, and the supply side has been disturbed strongly. However, the global economic growth is less than expected, the domestic spot fear of high sentiment still exists, and the demand is still light.

Market outlook

Copper prices are expected to remain volatile.

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