1、 Trend analysis
China’s domestic copper price fell slightly this week. The average price of domestic spot copper at the beginning of the week was 45548.33 yuan / ton, compared with 44746.67 yuan / ton at the weekend, down 1.76%, down 10.39% year-on-year.
| pivaloyl chloride trimethylacetyl chloride |
2、 Market analysis
Copper and copper price: this week, Shanghai copper index rebounded and suffered a setback. The price fell sharply from the high level to 44450 yuan, down 1580 yuan, or 3.43%. This week, LME’s March copper unilateral decline approached the low point at the beginning of the month, closing at $5547.5, down 3.77% on a weekly basis.
In the week, the global copper market inventory increased significantly, the domestic social inventory exceeded 400000 tons, and the Lun copper inventory exceeded 220000 tons, and the high inventory suppressed the copper price. In addition, the operating rate of non-ferrous enterprises is rising, and the capacity utilization rate of copper production enterprises returning to work is gradually rising, but there is high storage pressure, and the weak demand continues. Although smelters are expected to reduce production, there are more concerns about the short-term contraction of copper market demand, or prices will be suppressed.
| pivaloyl chloride |
3、 Future prospects
According to the above situation, copper analysts of nonferrous branch of business society think: the recovery of downstream consumption is slow, but traders are optimistic about the downstream resumption of work and logistics, and the overall transaction is average. At present, the pressure of high inventory is still outstanding, overseas demand is affected by the epidemic, and domestic terminal consumption is still recovering. Copper prices are expected to remain weak in the short term.
| http://www.polyvinylalcohols.com |