I. Trend analysis
As shown in the chart above, the domestic copper price fell slightly today. The average domestic spot copper price was 46816.67 yuan/ton, down 0.49% from the previous trading day, down 2.79% from the beginning of the year and down 7.39% from the same period last year.
II. Market Analysis
| Potassium monopersulfate |
Current copper prices have been mainly low volatility, during the National Day holidays, macroeconomic data in Europe and the United States show weakness, and market worries about the global economic slowdown continue to ferment. Under the background of macro-empty, copper price pressure is more obvious. However, global copper stocks remained low, LME copper stocks fell by nearly 50,000 tons from the beginning of September, and domestic copper stocks fell by 40,000 tons to 117,000 tons from September. In addition, with the recent maintenance of low copper prices, the price gap between domestic copper prices and Foshan scrap copper remains below 4000 yuan/ton, and the tightening of scrap copper supply is conducive to boosting electricity copper consumption. However, the consumer side did not improve. In August, the start-up rate of copper strip and foil enterprises was 69.46%, down 7.31 percentage points from the same period last year. In terms of power grid, the investment of power grid projects in August totaled 237.8 billion yuan, a cumulative decrease of 15.2% over the same period of last year.
3. Prospects for the Future Market
In the light of the above situation, copper analysts from the Nonferrous Branch of Business Association believe that supply and demand are weak, and copper prices are expected to remain low and volatile.
| ferric sulfate (Poly ferric sulphate) |