On January 6, the price of copper fell slightly, and the spot price was 70026.27 yuan/ton, down 0.73% from the previous day and up 18.29% year-on-year.

The minutes of the Fed’s partial eagle meeting urged the U.S. stock market to accelerate its downward trend. LME copper fell overnight and closed down 1.05%; inventories remained low, but downstream consumption entered the off-season, and the willingness to receive goods was not high. Low short-term inventories support prices. In the first quarter of CSPT, TC was higher than the CCC spot, and domestic supply and demand tended to loosen. The current domestic inventory is expected to be accumulated, and the overall trend of copper is expected to fluctuate mainly.

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

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