Non-ferrous metals fell across the board, and the trend of Shanghai copper fell slightly

Under the continuous pressure of high copper prices, wire and cable companies are facing great pressure on their working capital, in addition to the reduction of downstream orders, the collection of shipped orders is also slow, the proportion of accounts receivable has increased significantly compared with previous years, some cable companies are miserable, there is a finished product inventory to sell scrap copper, copper for cash industry chaos
.

From the trend point of view, it is not yet possible to judge whether it has entered the shock range, and there has been no adjustment of economic data or economic policy that can change the market in the macro aspect
.
The US core CPI rose 3% year-on-year in April, beating market expectations of 2.
3%, reflecting that the rise in upstream commodity prices has begun to gradually be transmitted downstream, and the transmission force and speed are greater than expected
.

From the perspective of supply and demand, the supply of intelligent copper ore may fluctuate in the next month, and the reason behind it is that there are certain problems in the supply of sulfuric acid, an auxiliary raw material for copper mining, which may affect 12% of copper mine production in the future, but the impact is not yet certain
.

According to the analysis of the Transportation Association, the wholesale sales of new energy passenger vehicles reached 184,000 units in April, a year-on-year increase of 214%.

Strategically, it is recommended to wait patiently for the entry opportunity
.
If the copper price can break through the previous high, you can consider going long with a small lot; If it falls below $75,000, you need to be wary of the start
of a sharp correction.