1、 Trend analysis
As shown in the figure above, the copper price rose slightly this week. By the end of the week, the spot copper price was 68531.67 yuan / ton, up 4.27% from 65726.67 yuan / ton at the beginning of the week, up 18.25% from the beginning of the year, and up 64.04% from the same period last year. This week, LME copper rose in March, closing at $9245, up 3.54%; at the beginning of this week, Shanghai copper index rebounded after a correction of 65700 yuan, closing at 68540 yuan, up 2.60%. This week, the international copper index closed at 61060 yuan, up 3.12%.
On the macro side, the US dollar index dropped to a three week low, and the sharp decline in US crude oil inventory showed that US demand recovered and accelerated. US retail sales in March recorded the largest growth in 10 months. The good economic data boosted market sentiment. As of Friday, overnight lungcu continued to be strong, with the latest closing quotation of US $9310 / ton, up US $230, or 2.53%. In terms of fundamentals, the second quarter was the peak season of traditional consumption. In the near future, the marginal demand improved, copper concentrate continued to be tight, and macro optimism supported the price rise. LME copper inventory also declined. It is expected that the copper price will still fluctuate strongly in the short term.
| http://www.thiourea.net |