Price trend

As shown in the figure above, on the 11th, copper prices fell slightly, and the spot price was 73,720 RMB/ton, down 0.1% from the previous day, up 5.42% from the beginning of the year, and up 10.47% year-on-year.

Analysis review

Oil prices rose, London copper rebounded to close up 0.43%. Some smelters have entered a centralized maintenance period, and the import window has been closed for a long time, and the import volume of refined copper will also be at a low level.

The downstream is affected by the epidemic, logistics and transportation are blocked, and the operating rate of copper processing enterprises in some areas has dropped significantly.

Market outlook

With the outbreak of the domestic epidemic, limited logistics and transportation, poor downstream transactions, and weak supply and demand, copper prices are expected to remain high and fluctuate.

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