1、 Trend analysis
| EDTA |
As shown in the figure above, the copper price fell first and then rose this week. As of the end of this week, the spot copper price was 72466.67 yuan / ton, up 1.3% from 71535 yuan / ton at the beginning of the week, up 25.04% from the beginning of the week and 36.96% year-on-year.
Copper weekly rise and fall chart
According to the weekly rise and fall chart of business society, in the past three months, it has increased by 5 and decreased by 7. Recently, it has fallen more or less.
Macro aspect: this week, the Federal Reserve reduced the taper, and the dollar formed an obvious upward trend to suppress metal prices. Over the weekend, US CPI data were good and oil prices rebounded, and metal prices rebounded sharply.
Supply and demand: although domestic power rationing is weakened, it still continues to affect the release of electrolytic copper. In addition, it is difficult for Northern goods to go south due to road transportation resistance, and the superimposed LME inventory is removed again. After the weakening of power rationing, the operating rate rebounded slightly, but the poor production and sales of real estate affected the overall demand.
| Sodium Molybdate |
LME copper inventories continued to fall this week
Annual comparison chart of copper
According to the annual comparison chart of business society, the price of copper this year is higher than that in the past two years, and the price of copper in the first two years rose slightly after mid November.
To sum up: the copper concentrate processing fee is subject to pressure fluctuation, but due to the considerable profit of sulfuric acid, the refined copper output of the smelter increases slowly. Domestic warehouse receipt inventory decreased, LME copper Warehouse Receipt Inventory fell, and the proportion of cancelled warehouse receipts decreased. The fall of the US dollar and the fall of spot inventory supported the price, but the poor production and sales of real estate affected the overall demand. Copper prices are expected to remain broadly volatile in the short term.
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