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As of the end of the week, spot copper quotations were 696733.
33 yuan / ton, up 0.
25% from 69496.
67 yuan / ton at the beginning of the week, up 20.
22% from the beginning of the year, and up 35.
99%
year-on-year.
This week, LME March copper first fell and then rose, down 0.
40%; The Shanghai Copper Index fluctuated in a narrow range this week, closing at 69,430 yuan, a weekly increase of 0.
59%.
The international copper index closed at 61,830 yuan this week, a weekly increase of 1.
00%.
On the macro front, global central banks will continue to maintain their current ultra-loose monetary and fiscal policies in the short term, and although the dollar has been strong after this interest rate meeting, it is largely an overdraft
of future economic growth.
In terms of fundamentals, the current TC price continues to rise, coupled with the domestic storage rumors landed, so the supply side has a more negative impact on copper prices, while on the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand, but due to the current market Fed dumping rumors interference and the impact of the possible tightening of central bank liquidity around the world, so overall, the current relatively neutral attitude
is maintained.
Recently, copper prices have gradually returned to fundamental pricing
.
At present, there is pressure on copper prices due to the gradual increase in supply, but below there is also procurement demand that was suppressed due to high prices in the previous two quarters due to lower prices, so from a fundamental point of view, copper prices may still maintain a volatile pattern
.
