Price trend

As shown in the figure above, on the 5th, copper prices fell slightly, and the spot price was 73,773.33 RMB/ton, down 0.29% from the previous day, up 5.5% from the beginning of the year, and up 2.83% year-on-year.

Analysis review

The dollar tumbled and stocks rose, with London copper closing up 0.59% overnight. The Fed's rate hike came as scheduled, in line with market expectations.

The epidemic situation in Shanghai continues to improve, and logistics and transportation are gradually recovering. However, China is still in a pattern of weak reality and strong expectations. Under the strict prevention and control of the epidemic, the pace of downstream resumption of work and production is slow, consumption is still weak.

Market outlook

Copper prices will run weakly in the short term.

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