Price trend

As shown in the figure above, on the 23rd, copper prices fell slightly, and the spot price was 73,455 RMB/ton, down 0.07% from the previous day, up 5.04% from the beginning of the year, and up 9.73% from the same period last year.

Analysis review

European and American stock markets rose to boost risk sentiment, and London copper edged up 0.1% overnight. The domestic market was expected to be optimistic, supported by high spot premiums, but the epidemic affected the enthusiasm of downstream consumption. Last Friday night, it was rumored that the LME proposed to ban Russian copper from entering warehouses, and the volatility of copper prices may intensify in the short term. However, under the background of stable domestic growth, if the epidemic is effectively controlled, the recovery of consumption will promote the rise of copper prices.

Market outlook

Copper prices will be dominated by volatility at a high level.

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