1、 Trend analysis
On the 14th, the spot copper price was 57950 yuan / ton, down 0.47% from the previous day, 18.18% higher than the beginning of the year, and 18.09% higher than that of the previous day. Today, LME3 copper rose in the early trading, and the Asian market closed at $7800, up 0.35%. The main trend of copper in Shanghai was weak today, with the lowest closing at 57220 yuan and the last closing at 57850 yuan, down 0.52%.
As the prospect of brexit without an agreement has hit the market sentiment, the US stimulus plan negotiation is deadlocked again, the smelter has the possibility of year-end momentum, and the tight situation of scrap copper will gradually ease, and the trend of copper price is weak today. In terms of inventory, the domestic social inventory fell by 8000 tons last week, and the inventory in the previous period decreased by 16000 tons to 82000 tons, and the inventory in China’s bonded area decreased slightly by 2000 tons. London Metal Exchange (LME) on December 11, London copper’s latest inventory of 146325 tons, a decrease of 1500 tons, or 1.01%, from the previous trading day. At present, although the domestic electrolytic copper production has increased significantly, the demand is still improved, and the depolarization will continue. It is expected that the copper price will continue to fall, and there is little room for copper price to continue to fall.
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