1、 Trend analysis
Copper prices fell slightly this week. By the end of the week, the spot copper price was 65673.33 yuan / ton, down 1.82% from 66888.33 yuan / ton at the beginning of the week, up 13.32% from the beginning of the year, and up 68.55% from the same period last year. LME March copper fell this week. It opened at $9020 at the beginning of the week, then fell to close at $8702. This week, Shanghai copper fell. It opened at 66510 yuan on Monday. After the opening, the price fell to 64930 yuan, and finally closed at 66170 yuan. This week, the price rose 130 yuan, or 0.13%.
Affected by the continuous rise of the US dollar, the fund is weak as a whole, suppressing copper prices. Recently, the copper price fluctuated at a high level, the domestic inventory accumulated, and the industrial drive weakened. At present, the domestic monetary policy is loose, and the total demand increased. After April, the demand for cables from infrastructure and real estate will gradually pick up, while the supply side’s expectation of gradually going to the warehouse will remain unchanged, considering the low price ratio and the concentration of refinery maintenance in the second quarter and the limited supply increment of refined copper. Generally speaking, the downstream investment demand is weak, while the consumption demand is fair. Copper prices are expected to remain high in the short term, mainly volatile trend.
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