1、 Trend analysis

As shown in the figure above, the domestic copper price rose slightly this week. The average price of domestic spot copper at the beginning of the week was 43038.33 yuan / ton, while that at the weekend was 43625 yuan / ton, up 1.36%, down 8.39% year on year.

2、 Market analysis

LME copper rebounded from a low in March this week, rising to a staged high of $5295 late in the week, closing at $5280.5, up 3.42% on the week. This week, the Shanghai copper index opened 42330 yuan lower and rose in shock, closing at 43520 yuan, or 1.24%.

This week, the spot copper price was depressed first and then increased. On the first day after the festival, the traders were willing to pick up the goods at a low price. The downstream just needed to prepare goods, and the trading was good. At the end of the week, the imported copper flowed in. The trading of the traders was weak, the consumption of the downstream enterprises was average, and the overall trading of the whole market in the week was OK. In April, imports of unwrought and rolled copper and copper materials increased year on year, while Europe and the United States considered starting to unseal the economy. At the end of the week, Chinese and American negotiators released good confidence to push copper prices higher. This week, the copper inventory of lunlun continued to be destocked, with a cumulative decrease of 7775 metric tons to 243700 metric tons, a cumulative decrease of 3.09%.

3、 Future prospects

Based on the above situation, copper analysts of the non ferrous branch of the business agency believe that domestic production has recovered rapidly, downstream demand has picked up seasonally, and the consumer market still has strong resilience. The continuous de stocking of copper has a strong support for the price. Copper prices are expected to remain volatile in the short term.