According to data from Shengyishe Spot News, the average price of LLDPE (7042) was 8916 yuan/ton on April 9th, and 8541 yuan/ton on April 16th, a decrease of 4.21%. LDPE (2426H) had an average price of 11933 yuan/ton on April 9th and 11650 yuan/ton on April 16th, a decrease of 2.37%. The average price of HDPE (5000S) on April 9th was 10562 yuan/ton, and on April 16th it was 10400 yuan/ton, a decrease of 1.54%.
The recent continuous decline in international crude oil prices and insufficient support from PE production costs have further intensified the bearish sentiment in the market. Among them, LLDPE has the highest sensitivity to crude oil prices, so the weakening of the cost side has the greatest impact on it, and the decline is also the most significant.
The overall supply side is tight, and China is currently in the peak of annual spring inspections, resulting in a decline in capacity utilization and output. Due to the influence of the Middle East geopolitical situation, there is a shortage of imports at ports, and inventory is showing a differentiated trend of upstream accumulation and social destocking.
The overall demand side is showing a weak trend during the off-season, with downstream product companies operating at low rates. The demand for agricultural film continues to decline with the end of spring plowing, and there is a shortage of new orders in areas such as packaging film and pipe materials. Under the pressure of high raw material prices, downstream enterprises’ profit margins have been compressed, and their purchasing intentions are cautious, mainly focusing on small orders for essential needs without centralized replenishment behavior, which has limited support for the market.
In the short term, the polyethylene market will maintain a volatile and weak trend, with supply side spring inspections and import disruptions forming certain support. However, the demand side is weak during the off-season, upstream enterprises are accumulating inventory, and the recent weak crude oil prices have led to loose cost support. It is difficult to have a clear directional breakthrough under the long short game.

1、 This week’s market review:
This week, the melamine market continued its downward trend. As of April 14th, the benchmark price of Shengyi Society was reported at 9150.00 yuan/ton, a decrease of 5.43% from the beginning of this week (9675.00 yuan/ton). The overall price was under pressure and fell during the week, with a daily increase or decrease of -3.43%. From the perspective of market performance, there is a strong wait-and-see atmosphere in the market, and downstream procurement enthusiasm is not high. Coupled with supply side pressure, prices continue to weaken.
2、 Core driver analysis:
On the demand side: The downstream industries such as sheet metal and plastic have average operating rates, and the procurement of raw materials is mainly based on the replenishment of essential inventory, resulting in insufficient demand support.
Supply side: After the maintenance of some devices is completed, production will resume, and the market supply will increase. Coupled with inventory pressure, prices will be further suppressed.
Cost side: The fluctuation of upstream raw material urea prices is not significant, and the cost side support is limited, which has failed to effectively boost the price of melamine. As of April 15th, the benchmark price of urea in Shengyi Society was 1875.00 yuan/ton, an increase of 0.54% compared to the beginning of this month (1865.00 yuan/ton).
Future trend prediction:
The short-term price of melamine has fallen below the 10 day moving average, and the 10 day cycle has oversold, indicating a technical rebound demand. However, the 20- and 30 day cycles are still at high levels, and the market’s willingness to chase higher prices is insufficient, with limited room for rebound. If the price cannot quickly recover to 9475 yuan/ton (near the 10 day moving average), or will continue to decline, the lower support is at 9000 yuan/ton, and the strong support is at 8800 yuan/ton (near the 20 day moving average).
The medium-term trend is mainly characterized by high-level fluctuations, and the trend needs to be confirmed. The medium and long-term moving averages are still in a bullish position, and the upward trend has not been disrupted. There is still momentum for rebound in the medium-term. If the price stabilizes at the 20 day moving average after a correction, it will meet the buying conditions and is expected to restart the upward trend; If it effectively falls below the 30 day moving average (about 8600 yuan/ton), the trend will reverse and enter a downward channel.

According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China rose this week (4.1-4.14), with an average market price of 375920 yuan/ton at the beginning of the month and 383270 yuan/ton as of April 14th, an increase of 1.96%.

According to the data from Shengyishe Spot News:
In the first half of April 2026, tin prices showed a fluctuating upward trend in the range of 366000 to 383000 yuan/ton. From a technical perspective, it presents a pattern of short-term strength and medium-term stability. Among them, the 10 day and 20 day moving averages formed a clear bullish structure, which became a key supporting factor driving the upward trend of tin prices.
From the specific performance analysis of the moving average pattern, from April 1st to 14th, the 10 day moving average of tin prices remained stable above the 20 day moving average, constructing a classic golden cross bullish pattern. On April 1st, the tin price was reported at 375920 yuan/ton, with both the 10 day and 20 day moving averages in the median range. Subsequently, the price continued to rise, with the 10 day moving average quickly surpassing the 20 day moving average and maintaining an upward divergent trend. This phenomenon fully reflects the dominance of short-term bullish forces, and the market’s bullish sentiment towards tin prices continues to heat up.
In terms of market performance, from April 7th to 14th, tin prices quickly rebounded after repeatedly touching the 10 day moving average. For example, on April 13th, tin prices fell to 371170 yuan/ton, briefly touching the median level of the 10 day moving average, and then rebounded to 378130 yuan/ton the next day, highlighting the strong support properties of the 10 day moving average. At the same time, the 20 day moving average has maintained a steady upward trend, gradually rising from the median range in early April to the high range. On April 14th, the tin price was reported at 383270 yuan/ton, successfully stabilizing in the high area of the 20 day moving average. This indicates that the medium-term trend continues to improve, and the moving average system plays a significant role in supporting and guiding the price.
However, in the first half of April, tin prices did not simply rise, but also showed a certain degree of volatility. On April 2nd and April 13th, tin prices experienced a single day decline of over 1.8%, corresponding to a slight narrowing of the 10 day moving average and 20 day moving average. However, this is a normal correction phenomenon in the upward trend and does not change the overall upward moving average arrangement structure.
The technical strength of tin prices in the first half of April was supported by both tight supply and demand balance and macroeconomic favorable factors, laying a solid foundation for the upward trend of tin prices.
supply side
Continuous restriction is the core supporting factor. The slow resumption of tin ore production in Myanmar and Indonesia’s strict control over illegal mining, as well as tightening export approvals, have resulted in extremely limited global tin ore supply growth. Although the import volume of tin ore in China increased significantly by 96.04% year-on-year in February 2026, it decreased by 3.69% month on month, and the increase in ore imports from Myanmar did not meet expectations. In addition, the raw material inventory of domestic smelters is at a low level, which limits the release of refined tin production and leads to a tight supply of goods in the market.

demand side
The outbreak of peak season has arrived. April, as the traditional peak season of “Golden Three and Silver Four”, accelerates the resumption of work and production in infrastructure and real estate, while the automotive and home appliance industries rush to make up for orders. At the same time, emerging demands such as AI computing power centers and photovoltaic installations have rapidly emerged, leading to a significant increase in downstream demand for tin solder and photovoltaic ribbon. Especially with the significant year-on-year increase in AI server shipments, and the much higher tin consumption per device compared to traditional equipment, it has become the core incremental driving force behind the rise in tin prices.
Macroscopic perspective
Continuously releasing positive signals. The US has reached a two-week ceasefire agreement, easing geopolitical risks, weakening the US dollar index, and overall commodity market sentiment has rebounded. In addition, although the market has delayed expectations of the Federal Reserve’s interest rate cut, inflation expectations remain high, providing valuation support for industrial metals, and funds continue to flow into scarce industrial metal sectors such as tin.
comprehensive analysis
Based on the comprehensive technical and news situation, it is expected that tin prices will continue to fluctuate strongly and shift their focus upwards in late April. In the short term, they are expected to hit the 400000 yuan/ton mark, but in the medium term, we need to be vigilant about the risk of a pullback caused by supply recovery. The bullish structure of the 10 day and 20 day moving averages has not been disrupted. The short-term support levels are 370000 yuan/ton (10 day moving average) and 365000 yuan/ton (20 day moving average), respectively. If the price rebounds to this range, it will be a good buying opportunity. The upper pressure level is mainly concentrated at 390000-400000 yuan/ton, which corresponds to the high volatility range in the early stage. Coupled with bullish profit taking, there may be a period of volatile digestion.

According to the analysis of the Business Society’s market monitoring system, on April 14, 2026, the reference market price for domestic silicon metal # 441 was 9360 yuan/ton. Compared with April 1 (the market price for silicon metal # 441 was 9440 yuan/ton), the price decreased by 80 yuan/ton, a decrease of 0.85%.

Entering April, the market support for metal silicon # 441 is limited, and the market is running weakly
Recently, the overall domestic silicon metal market has remained stagnant and weak, with some specifications of silicon metal prices shifting downwards. As of April 14th, the price of metal silicon oxygen 553 # silicon in East China is between 8900-9100 yuan/ton, metal silicon 441 # is between 9100-9300 yuan/ton, metal silicon 421 # is between 9200-9400 yuan/ton, and 3303 # silicon is between 10100-10300 yuan/ton.
fundamental analysis
On the demand side: Currently, the overall operating rate of the downstream polycrystalline silicon market for metallic silicon remains stable. Recently, the price of polycrystalline silicon in the market has been at a low level, and there is a strong wait-and-see sentiment in the market. The demand for raw material industrial metal silicon procurement has shown caution. At present, the overall operating rate of downstream organic silicon enterprises is also relatively stable, and some organic silicon monomer factories have shown weak enthusiasm for purchasing raw materials. The operating rate of downstream aluminum silicon alloy enterprises has not been significantly adjusted, while the operating rate of some leading enterprises in the recycling industry remains stable. Some small and medium-sized enterprises have a weak mentality due to insufficient downstream orders.
Supply side: Currently, the overall operating rate of metallic silicon in China has not changed much compared to the beginning of the month. Yunnan and Sichuan regions are still in the dry season, and the overall operating rate is at a low level. In Xinjiang, there are some new and maintenance equipment being replaced, and the overall operating rate is limited, with a reference operating rate of around 75%. The overall output of the supply side has not changed much, and there is still some pressure on the supply due to downstream demand constraints.
Market analysis in the future
Overall, the supply and demand of the industrial silicon market are currently in a weakly balanced state. With the arrival of the southwest flood season, the market is expected to face supply pressure, so the fundamentals have not shown significant improvement yet. Due to the abundant supply of industrial silicon spot goods, some downstream users have a habit of purchasing at low prices, and some small and medium-sized silicon enterprises still face inventory pressure. It is expected that in the short term, the metal silicon market will be weakly adjusted and operated in a narrow range, and the market performance will still be mainly cautious. We still need to pay more attention to the changes in supply and demand side news

According to the Commodity Market Analysis System of Shengyi Society, the price of formic acid in China has been stable recently. As of April 17th, the benchmark price of 85% industrial grade formic acid in Shengyi Society was 3000 yuan/ton, an increase of 15.38% month on month and a decrease of 11.76% year-on-year.

Supply and demand market, relatively balanced
On the supply side, the current market supply is sufficient, and most formic acid manufacturers have resumed production. Although they have not yet fully entered full load operation, the overall supply capacity can meet market demand. Coupled with the low overall inventory in the industry, it provides certain support for price stability. The performance on the demand side is average, and the purchasing willingness of domestic downstream enterprises is weak, mainly focusing on acquiring and replenishing goods for essential needs. There has been no large-scale centralized procurement behavior, and the driving effect on the market situation is limited. However, there is still residual heat in the export market, and export orders can provide temporary support for the market. Under the combined effect of multiple factors, the overall market is showing a stable operating trend.
Overall, the four factors of abundant supply in the formic acid market, weak domestic demand, export support, and low inventory are interacting to maintain price stability. Based on the spot market analysis of Shengyi Society, the 10 day moving average and the 20 day moving average have overlapped, indicating that the market has reached a turning point and the price position is high, with limited upward space. Therefore, the price of formic acid may operate weakly and steadily.

1、 Trend analysis

According to monitoring data from Shengyi Society, copper prices have slightly increased this week. As of the 10th, copper prices were reported at 98331.67 yuan/ton, an increase of 2.23% from the beginning of the week and a year-on-year increase of 30.64%.
Copper weekly fluctuation chart
According to the weekly chart of Shengyi Society, copper prices have risen slightly this week, with a decrease of 5 and an increase of 6 in the past three months.
LME copper inventory
According to data released by the London Metal Exchange (LME). LME copper inventory has slightly increased, with 383450 tons of LME copper inventory as of the weekend, up 5.21% from last weekend.
Macroscopically, in the first quarter, the Chinese economy remained stable with progress, and the manufacturing PMI returned to the expansion range, sending a clear signal of increased economic vitality. The US service sector PMI unexpectedly cooled to 54.0 in March, indicating a weakening of expansion momentum. However, the stickiness of the core PCE price index (3.0% year-on-year) is like an invisible line, restraining the nerves of the Federal Reserve. This means that the high interest rate environment may last longer, but the market’s tightening panic has temporarily eased.
Supply side: Overseas mine strikes and frequent force majeure events, coupled with insufficient global capital expenditure, have led to a consensus on the shortage of mining resources. The domestic copper concentrate processing fee (TC) has fallen to freezing point, compressing the profits of smelters. Although sulfuric acid revenue provides a certain buffer, the essence of raw material shortage has not changed.
On the demand side: As we enter April, the traditional peak season effect becomes apparent. The operating rate of refined copper rods has exceeded 80%, and cable and copper tube enterprises have full orders, even experiencing the phenomenon of “production cannot keep up with outbound”.
In summary, the macroeconomic sentiment has rebounded and the fundamentals are characterized by weak supply and strong demand. The bottom support for copper prices is strong, and it is expected that copper prices will experience strong short-term fluctuations.

Since mid March, the domestic PTA market has shown a high volatility trend. According to the Commodity Market Analysis System of Business Society, as of April 3, the spot price of PTA in East China was 6771 yuan/ton, up 2.59% from March 15.

From a cost perspective, PTA prices have always been driven by strong upstream raw materials, which is the core factor supporting its high-level operation. Recently, the international crude oil market has been affected by the tense geopolitical situation in the Middle East, with oil prices fluctuating at high levels and the bottom of the cost side continuously rising. On April 2nd, the settlement price of the May WTI crude oil futures contract in the United States was $111.54 per barrel, and the settlement price of the June Brent crude oil futures contract was $109.03 per barrel. At the same time, the Asian PX market is entering a concentrated maintenance season, with supply remaining tight and PX prices remaining firm, further driving up PTA production and processing costs.
Under the pressure of high costs, the processing fees in the PTA industry have been continuously compressed, and the profit margins of some production enterprises have narrowed, forcing large factories to actively reduce their production and burden, forming a two-way support between costs and supply, effectively curbing the space for a significant decline in PTA prices. Top enterprises have successively lowered the operating load of their equipment, with an overall operating rate of around 78% in the industry. The market circulation of goods has tightened, and favorable conditions continue to be released on the supply side.
The downstream polyester industry of PTA has weak terminal orders, and there has been no significant rebound in demand for textile and clothing foreign trade and domestic sales. Polyester factories and weaving enterprises have high finished product inventories, which puts great pressure on capital turnover. Their willingness to purchase high priced PTA is relatively low, mainly for small orders of essential needs. Some polyester factories have even passively reduced production, and their operating load has gradually decreased, resulting in poor transmission of demand for PTA and making it difficult for PTA prices to continue to rise unilaterally.
Business analysts believe that the trend of cost side crude oil and PX remains the dominant factor. If the geopolitical situation continues to be tense and PX supply remains tight, PTA prices will continue to receive strong support. However, the demand for terminal textiles has not yet recovered, and the upward space for prices will be limited. It is expected that the PTA market will continue to maintain a high and wide range oscillation trend in the short term.

price trend
In the past week (April 1 to April 7, 2026), the domestic PA66 market has shown an overall high volatility upward trend, still supported by strong costs in the short term, but weak demand has suppressed further upward space. According to data from Shengyi Society, as of April 7th, the benchmark price of PA66 was reported at 22966.67 yuan/ton, an increase of about 10.06% from 20866.67 yuan/ton on April 1st, showing an accelerated upward trend. This round of upward trend continues the strong pattern since March, driven by the continuous price increase of upstream raw materials.
influencing factors
In terms of cost:
Recently, the geopolitical conflict in the Middle East has continued, with international oil prices fluctuating at high levels. Adipic acid has remained high since late March, and the price of hexamethylenediamine has also continued to rise. The execution price of NVIDIA in April has been raised to 26000 yuan/ton, a significant increase from the beginning of the year. The domestic quotation has also reached 22000-23000 yuan/ton, and the cost pressure is directly transmitted to PA66. Although geopolitical conflicts have eased recently, the energy premium in the early stage has been deeply embedded in the industrial chain, making it difficult for the short-term cost center to move downwards.
Supply side:
Recently, there has been a decrease in imported goods, resulting in tight spot circulation in the market. Traders are reluctant to sell, and there is a strong tendency to hoard and sell goods. Both manufacturers and traders have low overall inventory levels, leading to tight spot circulation in the market.
In terms of demand:
Recently, the downstream textile industry has had a low acceptance of high prices and has generally adopted a strategy of “small order demand, on-demand procurement”. Large order purchases are rare, and trading activity is insufficient, forming a stalemate pattern of “supply side control and demand suppression”.
Future forecast
In the future, it is expected that the PA66 market will maintain high volatility in the short term, and the price is unlikely to show a significant unilateral trend. Cost support and weak demand form a game, and price trends will highly depend on changes in raw materials and downstream order recovery progress. If there is no significant improvement in terminal demand, high prices or suppression of production will lead to the continuation of the “price but no market” situation.

1、 Market Core Overview

According to data from Shengyi Society, as of April 7, 2026, the benchmark price of melamine was 9650.00 yuan/ton, an increase of 2.39% compared to early April (9425.00 yuan/ton). This week, the price maintained a high horizontal trend and a stable range, with prices remaining unchanged for several consecutive days. The market has entered a high-level game stage after the decline of upward momentum.
From the perspective of price performance during the year, the current price has reached a historical high of nearly a year, with an increase of over 79.9% compared to the low point of 5375 yuan/ton, and a median value of 7512.5 yuan/ton. The current price is at an absolute high level, with a premium of over 28.4% compared to the median value. The market’s “1-year super rise” warning continues to be in effect.
2、 Market Analysis of Business Society Spot Communication System
（1） Location feature analysis
According to the spot trading rules of Business Society, price positions are divided into 5 levels: 1 point for high position, 2 points for medium high position, 3 points for medium high position, 4 points for medium low position, and 5 points for low position.
10 days/20 days/30 days/60 days/90 days/year Position: All are high
10/20/30 day cycle position score total: 1+1+1=3 points, far below the buying threshold (>9 points). Core conclusion: The current price is at an absolute high throughout the cycle, with no buying opportunities, and the risk of chasing high prices is extremely high.
（2） Trend feature analysis
The rule of the Business Society spot moving average: Short term moving average above the long term moving average=upward trend, winding=oscillatory trend, below=downward trend.
Price line (yellow): Continuously running above the 10 day (red), 20 day (green), 30 day (green), and 60 day (purple) moving averages, with a bullish structure not broken
Moving average slope: The short-term moving average (10/20) slopes flat, narrowing the gap between prices and the moving average, and significantly weakening the momentum of unilateral upward movement
Core conclusion: The trend is still bullish, but it has entered the end of the uptrend, with prominent high-level oscillation characteristics and insufficient sustainability of the uptrend.
（3） System buying opportunity determination
According to the dual conditions for buying on Spot Connect:
1. 10/20/30 day position score total>9 points: Currently only 3 points, not met
2. The moving average shows a winding or upward trend: the current trend is upward, meeting the requirements
Final judgment: There is no buying opportunity, and the current position is only suitable for holding and waiting for an increase. It is strictly prohibited to chase high prices and be alert to the risk of falling back from high positions.
3、 Market core driving factors
1. Supply side: The current operating rate of the melamine industry remains at a high level of 68% -70%, but there are sufficient pending orders from enterprises in the early stage, and spot supply is tight. Enterprises have a strong willingness to raise prices, which is the core support for maintaining high prices.
2. Demand side: The operating rate of downstream industries such as sheet metal and coatings is less than 50%, and there is a strong resistance to the current high price of 9650 yuan/ton. Purchasing is mainly for essential needs, and new orders are slowing down, making it difficult for high prices to continue to be transmitted, which is the core pressure restricting further price increases.
3. Cost side: The price of raw material urea remains fluctuating at a high level, but there is insufficient upward momentum, which weakens the marginal cost support for melamine and cannot provide additional impetus for further price increases. As of April 7th, the benchmark price of urea in Shengyi Society was 1857.50 yuan/ton, a decrease of 0.4% compared to the beginning of this month (1865.00 yuan/ton).

4. Export side: There is still some support for export orders, but the international market’s acceptance of high prices has decreased, and the export volume has fallen month on month, weakening the driving effect on domestic prices.
4、 Future trend prediction (conclusion from the Business Society Spot Communication system)
Short term (1-2 weeks, mid to late April): Price range: 9500-9800 yuan/ton, supported by pending orders from enterprises, and supported by downstream essential procurement, making it difficult for prices to drop significantly; But downstream high prices resist and transactions slow down, which cannot support further price increases, and the market enters a high-level sideways game. Full cycle high+bullish trend blunted, mainly oscillating, with no opportunity to chase the rise.
Mid term (3-4 weeks, early May): Enterprises’ pending orders are gradually being digested, new orders are not being followed up enough, downstream production continues to decrease, high prices are being resisted, procurement demand is further shrinking, raw material urea prices are weakening, cost support is ineffective, prices have fallen below the 10 day moving average, and the bullish structure is breaking. If the above signals are triggered, prices are likely to fall to the range of 9200-9500 yuan/ton, and a high-level downward trend is established.
Long term (1-2 months): The current price has been at an absolute high for nearly a year, far exceeding the industry average cost and reasonable profit level. With the recovery of supply and weak demand, the price will gradually return to the median value (around 7500 yuan/ton), and the long-term downward trend is the main trend.
In summary, although the melamine market trend is still upward, the price position is in an extremely high-risk area and does not meet the buying timing defined in the “Business Society Spot Market Analysis Method”. The various indicators and alerts provided by the system indicate that the current stage is a risk accumulation phase, rather than a buying opportunity. It is recommended to focus on risk prevention and closely monitor whether there is a top reversal signal in the price.

1. Trend Analysis

According to data monitored by Business Society, copper prices fluctuated this week, rising first and then falling. By the 3rd, the price stood at 96,186.67 yuan per ton, up 0.97% from the beginning of the week and 21.6% year-on-year.
According to the weekly price trend chart from Business Society, there have been five increases and seven decreases over the past three months, with copper prices experiencing a slight rise this week.
LME copper inventory
According to data released by the London Metal Exchange (LME), LME copper inventories rose slightly, reaching 364,450 tons by the end of the week, up 0.51% from the start of the week.
On the macro front, the market is gripped by a “defensive” anxiety. Firstly, the strong rebound of the US dollar index. Influenced by delayed expectations of Federal Reserve rate cuts and risk-averse sentiment, the dollar index has climbed back above the 100 mark, suppressing the rebound space for dollar-denominated commodities such as metals. Secondly, Trump’s “Tariff 2.0.” The White House recently announced new tariffs on key industrial sectors, maintaining high 50% tariffs on imports like copper and aluminum.
Supply side: The tight supply situation of copper ore persists. Ivanhoe Mines lowered its production forecast, while domestic copper concentrate spot TC (processing fee) dropped below historical lows, continuing to fluctuate in negative territory, indicating that smelters lose money for every ton of copper produced. CSPT abandoned its guidance price for Q2, further confirming the severe shortage of raw materials. Additionally, stricter inspections on “reverse invoicing” and restricted scrap copper supply forced downstream sectors to shift to refined copper, further intensifying supply pressure.
Demand side: Although traditional infrastructure demand remains weak, AI computing power and new energy are taking over the “baton” of copper consumption. The Ministry of Industry and Information Technology’s “Stable Growth Work Plan for the Nonferrous Metals Industry” has entered a critical phase, with emerging sectors such as data centers and new energy vehicles gradually releasing their copper demand. Data shows that the inflection point for domestic inventory drawdown has emerged. Despite macroeconomic sentiment suppressing pre-holiday stockpiling demand, mandatory restocking continues, and the spot market has not seen panic-driven selling.
In summary, geopolitical uncertainty remains the dominant factor. Until the navigation issue at the Strait of Hormuz is resolved, market risk aversion is unlikely to subside, and copper prices are expected to maintain a wide fluctuation trend. From a medium to long-term perspective, the tight supply-demand balance in the copper market has not changed. The rigid constraints on mine supply and the sustained growth in new energy demand form the core logic behind copper prices being more prone to rising than falling.
Technical Analysis
Through the market analysis system, the future trend of copper prices can be analyzed from two dimensions:
1. When the 10-day moving average (for copper spot prices) is above the 20-day moving average, the probability of an upward trend is higher. Conversely, the probability is lower. Currently, the 10-day moving average for copper prices is below the 20-day moving average, indicating a relatively low probability of an upward trend. However, the 10-day moving average is approaching the 20-day moving average and may cross above it, so it is advisable to closely monitor the potential crossover point.
2. Current Position. Currently, copper prices are at a medium-high level in the short term and medium-low level in the medium term. The positional advantage is not particularly significant.
Overall, copper prices are currently in a weak trend, and the position is not at an absolute low, making a price increase unlikely. Focus on the crossover turning point of moving averages to identify opportunities.