On the 8th, copper prices rose slightly. The spot price was 69,865 yuan/ton, an increase of 0.09% from the previous day, an increase of 20.44% from the beginning of the year, and a year-on-year increase of 22.58%.

The U.S. dollar index rose, and LME Copper closed down by $26 overnight. The market has eased the panic about the mutant virus strain. Global copper stocks are still low, supply disturbances may increase, and copper prices are more resistant than falling. The growth of upstream copper processing fees has slowed down, and the tight supply of cold materials still exists, the superimposed sulfuric acid price has fallen sharply, and the pressure on refinery production has increased. In November, the domestic power restriction was relaxed, and the operating rate of downstream processing companies has rebounded significantly. However, the low demand for demand at the end of the year is approaching, and the willingness of downstream purchases is low. It is expected that copper prices will continue to fluctuate widely.

Related listed companies: Jiangxi Copper (600362), Tongling Nonferrous Metals (000630), Yunnan Copper (000878).

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