-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Shanghai copper trend is weaker
this week.
The weekly average settlement price of the current month's contract was 66,330 yuan / ton, down 164 yuan / ton per day; The average price of the previous week was 66920 yuan / ton, down 0.
88%
from the previous week.
Copper volatility weakened
this week.
The average price of LME copper in the first four trading days was 8922.
25 US dollars / ton, an average of 66.
75 US dollars / ton per day; Last week's average price was $9,047/ton, down 1.
38%
month-on-month.
On the macro front, China's economy has continued to recover since March, with exports, infrastructure and real estate investment being the main driving forces
.
Eurozone manufacturing data for March was strong, manufacturing output soared on record terms, and the outlook was relatively positive
.
The Federal Reserve said the economic recovery had exceeded expectations, signaling it would taper bond purchases, and the dollar index continued to rise, weighing on commodities
.
In terms of the market, in the week of March 26, the high level of domestic spot copper prices fell
.
The average price of copper in Yangtze River nonferrous metal network 1# was 66290 yuan / ton, down 188 yuan / ton per day, and down 1.
41% on the weekly line; The average price of the previous week was 66960 yuan / ton, down 670 yuan / ton compared with last week, down 1.
00%
from the previous week.
There is a difference between supply and demand, the cost pressure in the downstream market is greater, the operating rate of processing enterprises is differentiated, and the demand for copper pipes is strong, but the start of copper rods is weak
.
Consumption has not yet shown obvious signs of improvement, demand has not recovered quickly, domestic and foreign inventories remain at a high level, and the stalemate between supply and demand has not been significantly broken
.
In terms of inventories, London copper stocks continued their upward trend this week, accumulating an increase of 18,850 metric tons to 123,800 metric tons, a cumulative increase of 17.
96%.
Shanghai copper inventories continued their upward trend this week, increasing by 987 tons to 188359 tons, an increase of 0.
53%, and the cumulative increase in the last eight weeks reached 183.
97%.
South American copper supply disruptions have eased slightly, and the threat of a strike at Chile's Los Pelambres copper mine has been lifted, although copper concentrate shipments have been delayed
in Peru due to truckers' strikes.
Copper concentrate supply remains tight, and concentrate processing fees remain low
.
The data shows that the first two copper scrap imports increased significantly, and the amount of scrap copper imports increased by 60.
4% year-on-year to 191,700 tons
.
It is reported that Chinese copper smelters do not set a minimum standard for Q2 processing and refining fees (TC/RCS), and concentrate supply continues to be tight; Although scrap copper imports and electrolytic copper production have increased, and the inventory inflection point has not yet appeared, peak season demand is still expected, and copper prices are expected to fluctuate
at high levels next week.
