1、 Trend analysis
As shown in the figure above, the copper price fell slightly on the 22nd, with the spot price of 63106 yuan/ton, 0.15% lower than the previous trading day and 8.8% lower than the same period last year.
The US dollar surged to a 20-year high, and Luntong closed 0.84% lower overnight. Macro empty sentiment increased. On the supply side, the interference from overseas mines has temporarily ended, and the supply has gradually eased. As some smelters entered the maintenance state in September, TC continued to rise slightly by 0.54 dollars/ton month on month to 82.50 dollars/ton, and the supply at the mine end was looser than that at the smelting end. On the demand side, affected by real estate, epidemic, export and other factors this year, household appliances, electric tools and other industries have always been in a downturn. The sluggish supply and demand put pressure on copper prices. However, in the late September, there was some expectation for the downstream to stock up for the National Day holiday, which supported copper prices. It was expected that copper would have a strong trend of short-term shocks.