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    Home > Chemicals Industry > New Chemical Materials > May 6 Copper Market Brief Review

    May 6 Copper Market Brief Review

    • Last Update: 2022-12-24
    • Source: Internet
    • Author: User
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    Overnight, London copper extended its bottom, closing at $9459.
    5, down 0.
    53%.

    The number of jobless claims in the United States exceeded expectations, the market is worried that the Fed's interest rate hike is difficult to curb inflation, the US index rose to suppress non-ferrous metals, the current fundamentals of domestic copper explicit stocks continue to destock, cyclical consumption brings some support, is expected to be weak bottoming, or there is a slight rebound
    .

    In terms of the market, as of May 6, Yangtze River spot 1# electrolytic copper 72920-72960 yuan / ton, the average price was 72940 yuan / ton, down 910 yuan from the previous trading day, 340-380
    liters.

    Today's copper prices continued to decline, and the overall enthusiasm for inquiry has improved, but there are still some downstream bearish wait-and-see sentiments, mainly on-demand market procurement, and the amount of spot circulating is acceptable
    .

    Tongling and other smelters have been postponed to maintain normal production levels, copper supply has gradually relaxed, and logistics and transportation have shown signs of improvement, but there is still no peak season atmosphere
    on the consumer side.
    The epidemic in Wuxi and other places has rebounded, control measures have been tightened, downstream operating rates have been restricted, and replenishment demand has slowed down
    .

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