Copper Prices Rebounded IN Shock This Week

The main raw material of electric wires is copper, this article is about the recent price changes of domestic copper in China.

In the week of March 25, China's spot copper price fluctuated and rebounded. According to the Yangtze River Nonferrous Metals Network, the average spot copper price in the Yangtze River was RMB 73,732/ton, with an average daily increase of RMB 114/ton; the average price in the previous week was RMB 72,444/ton, an increase of RMB 1,288/ton compared with last week , up 1.75% month-on-month.

From a macro perspective, the situation in Russia and Ukraine is still unresolved, and the sanctions against Russia by Europe and the United States are escalating step by step. However, high overseas inflation and China's internal growth policy are still supporting metal prices on a macro level. In terms of inventory, the copper inventory of the Shanghai Futures Exchange was 129,506 tons (-32,162 tons), the LME copper inventory was 80,675 tons (+700 tons), and the bonded area inventory was a total of 247,000 tons (+01,000 tons). Inventories have fallen outside and inside, but global copper inventories are still at a low level, which supports copper prices in the short term, and copper prices remain strong. From a fundamental point of view, transactions in China's internal spot market are sluggish, and some traders choose to wait and see. The epidemic situation in various places is still serious, and control is still in progress. Under the pressure of consumption and the return of funds at the end of the quarter, large traders took the lead in selling goods and realizing it. , the spot premium fell.

On the whole, the copper price will remain high under the macro-level high inflation, and the low inventory is the main reason for the high copper price. However, China's domestic short-term demand has weakened due to the epidemic, and the downstream mining industry has continued to slump, affecting the enthusiasm of market transactions.

Due to the rise in copper prices, the price of electric wires will also increase slightly in the near future, but you can contact us for real-time price changes.