1、 Trend analysis
On April 8, the spot copper price was 40786.67 yuan / ton, down 0.11% from the previous day, 16.82% from the beginning of the year, and 17.33% year-on-year. Shanghai copper’s main contract rebounded after opening low today. After touching 41020 yuan, it fell back to 40810 yuan, up 0.52%.
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2、 Market analysis
The downstream consumption is flat, the transaction is dominated by trade flow, and the decrease of circulating goods continues to support rising water. The recent rebound in low copper price is mainly due to the continuous supply disturbance of overseas ore terminals, the expectation of reducing supply of many overseas smelting producers, the suspension of operation of many mines in Africa and Latin America, and the current reduction of domestic copper Exchange warehouses, which supports copper price. However, the global risk preference is weak, so it is difficult to improve copper demand.
3、 Future prospects
According to the above situation, copper analysts of nonferrous branch of business agency think that under the condition of weak supply and demand, it is difficult for short-term copper price to rise significantly.
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