On December 14, copper prices rose slightly. The spot price was 68901.67 yuan/ton, down 1.01% from the previous day, up 18.89% from the beginning of the year, and up 18.9% year-on-year.
On the domestic front, the central bank’s mid-term RRR cut released 1.2 trillion yuan of liquidity recently, and inter-cyclical adjustments released positive signals, which supported copper prices to a certain extent. Overseas, as inflation in the United States rises, the market's expectations for the Fed to raise interest rates next year have further increased, restraining the rise in copper prices. In terms of fundamentals, domestic smelters have gradually resumed production and started operations, superimposed on the influx of imports, increased copper stocks, and no bright spots on the demand side. Short-term copper prices may maintain a low and volatile trend.
Related listed companies: Jiangxi Copper (600362), Tongling Nonferrous Metals (000630), Yunnan Copper (000878).
If you have any questions, feel free to contact SunSirs with support@sunsirs.com.