SunSirs: Insufficient Short-term Upward Momentum for Copper Prices
April 23 2023 14:02:31On April 23rd, the benchmark price of copper in SunSirs was 68900.00 yuan/ton, a decrease of -1.12% compared to the beginning of this month (69680.00 RMB/ton).
In summary, the expected certainty of copper supply increment is stronger than the certainty of demand recovery. High prices of copper continue to suppress demand performance, and the actual consumption power of the spot end has not recovered as much as in the first quarter. Downstream buying is not strong, spot trading is stagnant, and copper inventory destocking has slowed down. Overall, the short-term upward momentum of copper prices is insufficient, with prices mainly experiencing broad fluctuations.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-11 SunSirs: The Trading Overview on Nonferrous Metals of Shanghai Futures Exchange on April 10th
- 2024-02-04 SunSirs : Bougainville Copper Mine Skyrocketed Due to a 5-year Extension of Panguna License
- 2024-02-04 SunSirs: This Week, Copper Prices Mainly Experienced Darrow Fluctuations (January 29-February 2)
- 2024-01-22 SunSirs: This Week, Copper Prices Continued to Fluctuate Weakly (January 15-19)
- 2024-01-15 SunSirs: This Week, Copper Prices Were Mainly Experiencing Weak Fluctuations (January 8-12)
