1、 Trend analysis
As shown in the figure above, on the 16th, the copper price fell slightly. The spot price was 68508.33 yuan / ton, down 0.64% from the previous day, up 18.21% from the beginning of the year and 18.28% year-on-year.
US inflation continued to soar, and copper fell $131 overnight. The domestic economic data in November was lower than expected, which depressed the copper price. Downstream power and production restrictions are ended, mostly to digest early orders. In November, the operating rate of copper cables rose back to 85.55%, with a month on month increase of 5.1%. It is expected that the operating rate of cables will decline again in December. The operating rate of domestic copper rods was 65.79%, down 2.31% on a week-on-week basis. Meanwhile, the supply of scrap copper continued to be tight. Copper inventory is low, and the short-term copper price may maintain a narrow shock trend.
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