Original Title: Non-ferrous Special Report: Macro Continues to Dominate Copper Prices Limited Rebound in the Short-term
Summary
[Non-Ferrous Special Report: The macro continues to dominate the copper price and there is limited room for a short-term rebound]On the macro level, the domestic epidemic is under control, and the overseas epidemic has improved; the euro zone economy has begun to recover. The senior government of my country pays close attention to commodity prices, and the United States may continue Release water. In terms of supply and demand, the supply of copper concentrate has been gradually eased, but there are still potential hidden dangers; because copper prices in May are strong outside and weak inside, which may affect the import volume of scrap copper in June; cold material processing fees continue to rise, leading to the production of electrolytic copper in the second quarter The decline was less than expected; at the same time, copper consumption maintained its peak season and the performance of domestic electrolytic copper social stocks did not see a turning point in the depot. It is expected that copper prices in June will still be dominated by the macro. Under the supervision of domestic policies, it is expected that there will be limited room for copper prices to rebound in the short term. If downstream consumption starts to improve significantly, it will be possible to try more bargains. (Southwest Futures)
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On the macro level, the domestic epidemic is controllable as a whole, and overseas epidemics have improved. The euro zone economy has begun to recover. The high level of the Chinese government pays close attention to commodity prices, and the United States may continue to release water. In terms of supply and demand, the supply of copper concentrate has been gradually eased, but there are still potential hidden dangers; because copper prices in May are strong outside and weak inside, which may affect the import volume of scrap copper in June; cold material processing fees continue to rise, leading to the production of electrolytic copper in the second quarter The decline was less than expected; at the same time, copper consumption maintained its peak season and the performance of domestic electrolytic copper social stocks did not see a turning point in the depot. It is expected that copper prices in June will still be dominated by the macro. Under the supervision of domestic policies, it is expected that there will be limited room for copper prices to rebound in the short term. If downstream consumption starts to improve significantly, it will be possible to try more bargains.
(Source: Southwest Futures)
(Editor in charge: DF506)
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