1、 Trend analysis
On June 15, spot copper offered 46891.67 yuan / ton, up 0.13% from the previous trading day, down 4.37% from the beginning of the year, up 0.94% year on year. LME copper three-month contract pressure shocks weakened, Asian market closed at $5689.5, down 1.56%. Shanghai copper’s main contract opened quickly and fell 1.20% to close at 46280 yuan.
2、 Market analysis
| Sodium Molybdate |
The national copper Council of Chile forecasts that global copper demand will drop 417000 tons in 2020 and 537000 tons next year. According to statistics, by the end of the year, about 27.5% of the world’s copper mines will be affected, of which Peru, Chile and Panama will be the most affected. At present, most of the overseas mines have resumed production, the price difference between refined and waste is expanding, the decline of inventory is slowing down, the demand side is likely to turn weak seasonally, and the resistance factor of copper price is gradually showing. However, the resumption of production and work in Europe and the United States is still continuing, and the supply side is still difficult to make a big change, supporting the copper price.
3、 Future prospects
Based on the above situation, copper analysts of nonferrous branch of business cooperatives believe that the favorable factors of copper price are weakened, the supply is increased, and the demand is weakened. It is expected that the copper price will be weak in the short term.
| http://www.lubonchem.com/ |