I. trend analysis
As shown in the figure above, today’s domestic copper price slightly fell to 47183.33 yuan / ton, 0.42% lower than the previous trading day, 2.03% lower than the beginning of the year, and 4.57% lower than the previous year.
II. Market analysis
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On the supply side, there have been frequent disturbances from the supply side of copper concentrate recently, among which a Chilean union leader supported the call for a 24-hour strike on November 12 in the fields of ports, mines, construction, retail, education and health care. However, in October, the supply of raw materials for copper mine was sufficient. Only Tongling Nonferrous Metals and Jiangxi copper industry overhauled the roughing link, and the refining output was not affected. On the demand side, with the policy increasing, the possibility of domestic economic stabilization has increased. At present, there are signs of improvement in the main areas of copper consumption, but it is still not obvious.
III. future prospects
Based on the above situation, copper analysts of nonferrous branch of business agency believe that: influenced by the negative comments of the United States on China US economic and trade consultation, the superimposition of domestic economic data shows that the pressure of stagflation is increasing and the overall atmosphere is empty. Supply and demand are weak, and it is estimated that copper prices will still be dominated by broad oscillation pattern.
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