1、 Trend analysis

As shown in the figure above, the copper price fluctuated and rose this week. As of the end of this week, the spot copper price was 73810 yuan / ton, up 0.39% from 73521.67 yuan / ton at the beginning of the week and 12.03% year-on-year.

Copper weekly rise and fall chart

According to the weekly rise and fall chart of business society, in the past three months, it has risen by 7 and fell by 4 and 1. Recently, the overall trend of copper price is strong.

Copper’s recent high shock trend is dominated. On Friday night, LME suggested banning Russian copper from entering the warehouse, and the short-term copper price fluctuation may intensify. The retail sales volume of narrow passenger cars in March is expected to be 1.58 million, a year-on-year decrease of 10.4%. As there are many areas affected by the epidemic and the epidemic is still in dynamic change, the specific impact of the auto market in March still needs to be further observed.

To sum up: disturbed by the concentrated outbreak of the epidemic in some parts of China, the delivery efficiency of smelters has declined, and it is rumored that some smelters will stop production under financial pressure. Overall, the impact of supply is significantly greater than that of demand. It is expected that domestic inventory will continue to be destocked under the dual weak pattern of supply and demand. Copper prices will be dominated by high volatility.