Analysis of domestic spot copper price trend from January to June

In the first half of 2020, copper prices were generally at
a high level.
Represented by Yangtze River spot 1# copper, the average price in early January was about 49140 yuan / ton, and the end of June was about 49460 yuan / ton, and the price increase was about 0.
65%.

The overall copper trend in the first half of the year can be divided into two stages:

In the first stage, from January to March, copper prices were in a downward trend
.
The main reason is that due to the impact of the domestic epidemic, almost all domestic enterprises stopped production and work after the year, and demand did not slowly recover
until March.

In the second phase, from March to June, copper prices rose
.
With the gradual control of the domestic epidemic, domestic enterprises gradually resumed production and work, market demand slowly recovered, and copper prices increased
.
In addition, the increasingly severe epidemic situation abroad has led to frequent shutdowns of foreign mines, affecting the supply of copper mines and supporting the rise
in copper prices.

In general, it can be seen from the spot copper price that due to the impact of the epidemic, the postponement of the resumption of production and work of domestic enterprises has led to a decline in copper prices first and then an increase, and the recovery price in the middle of the year is slightly lower than at the beginning of the year
.
At present, the supply of copper is stable, domestic demand is stable, and the international market has decreased significantly due to the spread of the epidemic, and international demand has been affected
.
In the second half of the year, copper prices should still follow this logic, in July and August domestic traditional consumption off-season, prices will be slightly weak, September and October traditional peak season, copper prices rebounded, November and December weak shocks
.