1、 Trend analysis
As shown in the figure above, copper prices fell slightly on the 19th. The spot copper price was 74871.67 yuan / ton, down 1.12% from 75721.67 yuan / ton on the previous trading day, up 29.19% from the beginning of the year and 71.13% from the same period last year. LME3 copper showed a weak trend, closing at US $10258.5, down 1.51%. Shanghai copper showed a downward trend, closing at 74090 yuan, down 2.01%. The main international copper contract closed at 66220 yuan, down 1.88%.
As the data of new housing starts in the United States in April was far less than expected, the market economy showed a slow recovery trend, which made the market worry rise again. In addition, the oil price also weakened, which dragged down the trend of copper price. At present, the copper price is still at a high level, the high cost of raw materials continues to squeeze the profits of the cable industry, and the affordability of small and medium-sized enterprises is limited; Affected by high prices and other factors, the consumption peak season of the downstream market is not strong, the terminal demand is suppressed, and the production of the automobile industry is limited due to the shortage of chips. It is expected that the copper price will maintain a wide fluctuation trend in the short term.
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