The copper market has continued to fluctuate in a narrow range recently, with the main contract of Shanghai copper fluctuating in a narrow range of around 78,000 yuan/ton. At the macro level, although the conclusion of the Sino-US trade agreement briefly boosted the market, copper prices still returned to fundamental dominance. The supply side shows a scissor gap between increasing ore production and shortage of scrap copper: overseas copper ore production has increased, but scrap copper imports have continued to decline, and the price difference of refined waste narrowed to a historical low to curb the start of recycled copper. The demand side is obviously differentiated: weak air conditioner production drags down traditional demand, and copper prices may maintain weak fluctuations in the short term, so we need to pay close attention to policy risks and substitution effects.
The latest market trend of waste non-ferrous metals today:
Note: The above information is for reference only and is not for other purposes. Entering the market based on this is at your own risk.
