1、 Trend analysis
| ferric sulfate (Poly ferric sulphate) |
On the 10th, the spot copper price was 50131.67 yuan / ton, down 2.63% from the previous trading day, up 7.47% year-on-year and 2.24% higher than the beginning of the year. LME copper’s 3-month contract rose 1.07% to close at $6304 at the end of Asian trading. Shanghai copper’s main contract in 2009 rebounded from the low and narrowed the decline, closing at 50230 yuan, down 2.09%.
Domestic downstream consumption is weakening seasonally, and short-term supply is increasing. At the supply end, Chile’s equivalent producer gradually recovers supply. Chile’s national copper industry Codelco restarted smelter and mine projects, while China’s large amount of imported copper materials flowed into the domestic shock market in July, and the recent inventory continued to accumulate. Last week, Shanghai copper inventory increased by more than 8%, and the accumulated stock increased by more than 8%, making the copper price under pressure.
In view of the above situation, the supply gradually recovered and the off-season effect of demand put pressure on copper prices. However, the registered warehouse receipts in LME copper market fell to a low level, and foreign demand recovered. It is expected that copper prices will mainly fluctuate at high levels.
| Benzalkonium chloride |