As shown in the figure above, the copper price rebounded slightly on the 6th, with the spot price of 61766.67 yuan / ton, up 1.46% from the previous day, down 11.67% from the beginning of the year, and down 11.5% year-on-year.
Recently, copper prices have rebounded slightly. Oil prices continued to strengthen, with London copper rising 1.62% overnight. The people’s Bank of China announced the RRR reduction and continued to provide policy support, while the decline of copper stocks and the soaring energy prices limited supply. In August, the domestic high-temperature weather caused power shortage, impacted the copper smelting industry, and caused a reduction in production. The new production capacity in Hubei was not ignited, and the output of Anhui refinery was damaged. The overall electrolytic copper output in August may not be as expected. However, after the high temperature eased, the supply recovered, but the global copper dominant inventory continued to stay at a low level, and the downstream consumption was on demand. The short-term copper price is subject to the suppression of macro sentiment and the influence of supply disturbance factors. It is expected that the copper price will fluctuate around 60000 yuan.
| Thiourea |