1. Trend Analysis

The domestic copper prices fell slightly today. The average domestic spot copper price is 47,245RMB/t, and it is 0.02% lower than that of the last trading day (47,255RMB/t). It is 1.9% lower compared with the beginning of 2019 and 3.13% lower year on year.

2. Market Analysis

The LME copper swings and falls 0.28% to 5,772USD before the close. With pressures, CUM falls to 47,120 this morning, it increases 0.26%. Copper prices have also remained weak as the world economy has slowed which keeps the industrial demand weak. In the market, the downstream consumption is weak, the trade is cold and the whole market transaction is low.

3. Prospects for the Future Market

In summary, the analysts from SunSirs believes that the National Day has impact on the northern copper smelting factories, the prices of copper can have some support. And when it comes to mines, the supply has always been tight. Copper prices up or down, depends on the late demand.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.