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April 21 Copper Market Morning Review

 Last Update: 2022-12-24
 Source: Internet
 Author: User

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Copper market morning comment: Affected by macro bearishness, the main Shanghai copper futures contract fell nearly 1% to around 74,500 yuan per ton on Wednesday
.
According to the latest World Economic Outlook report released by the International Monetary Fund (IMF), affected by the conflict between Russia and Ukraine, the institution lowered its global economic growth forecast for 2022 to 3.
6% on April 19, 0.
8 percentage points
lower than its January forecast.

Copper City

Fundamentals, the latest report released by the World Metal Statistics Bureau (WBMS) on Wednesday showed a shortfall of 83,000 tons in the global copper market in January-February 2022, compared with a shortfall of 479,000 tons
for the whole of 2021.
Copper production in January-February 2022 was 3.
44 million tons, a year-on-year increase of 2.
8%; Refined copper production from January to February was 4 million tons, up 0.
7%
year-on-year.
Copper consumption in January-February 2022 was 4.
081 million tons, a year-on-year increase of 4.
7%.

China's copper consumption in January-February 2022 was 2.
14 million tons, a year-on-year increase of 3.
3%.

China's imports of copper ore and its concentrate in March were 2,184,256.
66 tonnes, up 5.
37% month-on-month and 1.
09%
year-on-year.
Among them, Chile is the largest supplier
.
In the same month, 844,674.
43 tons of copper ore and its concentrate were imported from Chile, an increase of 1.
53% month-on-month and 3.
46%
year-on-year.
Peru was the second largest supplier, importing 491,901.
78 tonnes from Peru in the month, down 4.
78% month-on-month and 4.
96%
year-on-year.

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