1、 Trend analysis
As shown in the figure above, the copper price fell slightly on August 9. The spot copper quotation was 69641.67 yuan / ton, down 0.21% from 69785 yuan / ton on the previous trading day, up 20.17% from the beginning of the year and 35.26% year-on-year.
On Friday, the non-agricultural data strengthened more than expected. The market raised the expectation of the Federal Reserve taper, which made the US dollar index strengthen sharply, put pressure on copper prices, and copper fluctuated downward the next week. Although the recent disturbance of copper mine continues, the weekly inventory in the previous period stopped denaturing, the domestic inventory increased instead, and the Federal Reserve taper is expected to increase, so it is difficult for copper prices to have a bright performance. The strike in South America is still pending, and the scope of power rationing in Southwest China is expanded. However, the state still emphasizes ensuring supply and stabilizing price, and the short-term rise and fall of copper price is expected to be limited.
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