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Last week, copper prices rushed back down, London copper up to 10,747.
5 US dollars, a record high, Shanghai copper main force up to 78270 yuan, a new high since 2006, as of Friday at three o'clock in the afternoon, the main 2106 contract closed at 74560 yuan / ton, a weekly decline of 0.
45% or 340 points
.
In the market, spot copper rose 730 yuan during the week, the market rose and fell, downstream buying performance was weak, the inventory in the last period on Friday increased by more than 20,000 tons, and peak season consumption was suppressed by high prices and continued to accumulate.
Approaching the change of month, the current 05 and 06 contract difference reached 350 yuan, the market basically turned to the next month's ticket quotation, and returned to the premium for the month, good copper rose around
200 yuan.
In terms of import profit and loss, U.
S.
bond yields, the US dollar index recently recovered slightly, the import profit window continued to close, and the gap widened around
900 yuan / ton.
On the macro front, the high CPI and PPI data in the United States in April verified global inflation, and the initial results of epidemic control in the United States drove funds from the outside market to enter the market, pushing copper prices to a new 16-year high
after May Day.
However, then market worries increased, the US index rebounded to suppress non-ferrous metals, CME Group raised the margin to further suppress price speculation, and the copper price bureau may further transform
to the demand side.
In the medium and long term, due to the influence of green energy, there is still a preference outlook
.
However, in the short term, the momentum of copper prices may weaken, and it is expected that Shanghai copper will maintain high volatility, paying attention to the adjustment of
74,000 peripherals.
