1、 Trend analysis
As shown in the figure above, copper prices rose slightly on the 16th, with the spot price of 71828.33 yuan / ton, up 0.41% from the previous day. The main Asian market of Shanghai copper weakened, opening at 70910 yuan in the morning, and finally the price weakened, reaching a minimum of 70210 yuan and closing at 70360 yuan.
Copper supply and demand are both weak, low inventory supports copper price, copper fundamentals are good, and there is support below in the short term. However, at present, the short trend of industrial products is maintained, the market sentiment is pessimistic, and the weak total demand suppresses the price. After the weakening of power rationing, the operating rate rebounded slightly, but the poor production and sales of real estate affected the overall demand. It is expected that the short-term copper price is still dominated by shock and fluctuation.
| PVA |