1、 Trend analysis
As shown in the figure above, copper prices rose slightly on the 2nd, with the spot price of 71541.67 yuan / ton, up 0.97% from the previous day and 7.3% from the beginning of the year.
The surge in oil prices boosted the market, with copper closing up 2.24% overnight; The interference of non-ferrous metal supply continues to intensify, and market concerns promote the collective popularity of non-ferrous metals, superimposing the domestic economy to maintain elasticity. The TC of copper concentrate is rising steadily and the supply at the mine end is abundant. The output of electrolytic copper decreased due to maintenance in January and gradually repaired in February. High profits and less production restrictions will promote the output of electrolytic copper to continue to rise. Copper supply and demand showed a recovery trend as a whole. The change of domestic inventory was in line with the seasonal law, and the fundamental contradiction was not prominent. The recent macroeconomic and political situation may become the leading factor affecting copper. Copper prices are expected to remain broadly volatile as a whole.
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