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Copper prices fluctuated downward last week, and as of 3 p.
m.
on Friday, the main 2202 contract of Shanghai copper was at 69520 points, a weekly decline of 1.
22% or 860 yuan
.
European electricity prices continue to soar, natural gas prices rise, supply-side concerns caused by the energy crisis stimulate the surge in surrounding metals, and copper prices are driven to test one-month highs; Subsequently, affected by the hawkish tone of the Fed, the market risk appetite cooled, and the copper price lost the 70,000 mark
.
Last week, Shanghai copper was mainly range-bound, and spot copper prices were basically the same
as a few years ago.
After the year, the copper market maintained a volatile pattern, affected by European energy supply, the market escalated concerns about metal production, and promoted non-ferrous metals to rise
slightly.
However, on the other hand, the global variant of the new crown maintained its spreading trend, the surge in the number of infections and the rise in unemployment in the United States brought expectations of the Federal Reserve to raise interest rates in advance, and the volatility of the US index once hit copper prices to the bottom.
In terms of the market, spot copper last week was the same as last week, and the good copper premium rose from 70 yuan to around
440 yuan.
The year is approaching, the buying order below 70,000 shows the willingness to bargain and enter the market, while under the influence of tight supply, holders actively raise prices, and the trading atmosphere has also improved significantly compared with before the holiday
.
In terms of import profit and loss, the exchange rate change is relatively stable, and the import profit window reopened on Friday, with space within 50 yuan / ton
.
At present, the copper market maintains a volatile pattern, affected by European energy supply, the market has escalated concerns about metal production, and non-ferrous metals have risen
slightly.
However, on the other hand, the global variant of the new crown maintained its spreading trend, the surge in the number of infections and the rise in unemployment in the United States brought expectations of the Federal Reserve to raise interest rates in advance, and the volatility of the US index once hit copper prices to the bottom.
Near the traditional Spring Festival off-season, the downstream consumer side began to show weakness, fundamentals bring limited price momentum, the recent Shanghai copper main by the news and the surrounding market impact probability increased, is expected next week Shanghai copper to maintain a range shock market, before the Spring Festival enterprise rest gradually increased, it is recommended that traders light position for the holiday
.
