Price trend

As shown in the figure above, on the 22nd, copper prices fell slightly, and the spot price was 71,180 RMB/ton, down 0.51% from the previous day and up 1.79% from the beginning of the year.

Analysis review

The U.S. dollar index strengthened, while London copper closed down 0.8% overnight. The tense relations between Russia and Ukraine have caused the market to avoid risks. The pace of downstream resumption of work after the domestic holiday is slow, and the demand for replenishment of downstream warehouses is still not good. Domestic short-term demand is still weak, and inventories in bonded areas are accumulating.

Market outlook

It is expected that the overall copper price will remain fluctuating in a narrow range with a slight downward trend.

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