Shanghai Richeng Electronics Co. Ltd - ISO9001/IATF16949/ISO/TS22163
Choose Language

Wiring duct,Cable Gland,Cable Tie,Terminals,RCCN

Copper prices bottom out and rebound, the market outlook maintains bullish expectations

Last week, the copper price broke through and maintained a shock range of more than one month. The main force of Shanghai copper reached 69,500. As of 3 pm on Friday, the main force closed at 68,540 points, an increase of 2.73% or 1820 points.

On the macro level, the US non-agricultural data exceeded expectations. Powell said that the market expected loose monetary policy to continue. The 10-year U.S. Treasury yield fell and the US dollar index also fell weakly, releasing external pressure. Aluminum prices took the lead in breaking new highs. Regarding national price regulation The wind of cooling down, the capital side boosted the rebound of most non-ferrous metals.

In terms of the market, spot copper rose by 1810 yuan last week. Due to the large monthly spread and the continuous rise in the market, the willingness of downstream buyers to enter the market was suppressed. Good copper turned to a discount of around 90 yuan. On Monday and Tuesday, the market was weak, and market transactions improved significantly. However, the peak season demand performance was average. The market expected a delay compared with the traditional time. The stock inflection point of the previous period has not been reached. It is expected that after the market stabilizes, the discount rate will be narrowed. In terms of import profit and loss, the U.S. Treasury yield and the U.S. dollar index have recently declined weakly. The import profit window has continued to close, and the gap has widened to around 600 yuan/ton.

Fundamental changes are still small, there are more speculations in the peak season, and domestic smelters have maintenance plans in the second quarter, and the mine ends remain tight, which is generally positive for copper prices. The bullish expectations will be maintained in the future, and the bulls will be able to gain some profits during the day. The disk is expected to still have room for adjustment, and the downstream will wait for the callback to replenish.

Copper prices bottomed out last week and rebounded. Shanghai Copper closed at 68,540 points, an increase of 2.73%. The market outlook maintains bullish expectations, but there is a short-term adjustment demand. It is expected that there will still be a strong performance after the adjustment next week.

Article information source-cable network

Disclaimer: Part of the public information collected on this website comes from the Internet. The purpose of reprinting is to convey more information and use it for network sharing. The content of the article is for reference only and does not constitute any investment or other advice. If you find that there are works on the website that infringe your intellectual property rights, please contact us and we will modify or delete them in time.

Related articles

Previous: 2021 wind power and photovoltaic development and construction plans announced!
Next: my country's industrial production rebounded steadily in the first quarter, and imports and exports increased significantly
WeChat WeChat