Institutions are optimistic about the rebound ability of copper prices


  Copper prices have continued to weaken since April 17. The LME 3-month copper price fell from $6,608.8/ton to the current $6,118/ton and hit a three-month low. However, industry insiders pointed out that from the analysis of supply and demand, the dollar and other factors, copper prices have the potential to rebound in the near future.

  Analysts pointed out that the negative factors that led to the decline of copper prices in the near future are tending to ease. First of all, the failure of the Fed's interest rate cut expectations has caused the US dollar to counterattack or the direct cause of the sharp decline in the prices of non-ferrous metals such as copper in this round. As the US dollar remains strong, A more relaxed stimulus policy was formed. When inventories rose, the negative impact of bad news instantly formed a wave of selling, causing copper prices to fall. However, the latest news shows that the US economic data is acceptable, and the Fed's monetary policy of not cutting interest rates has also been priced in by the market. Secondly, the expectation that demand in Europe and China may decline is also a factor leading to the weakening of copper prices. Given that demand in China may improve, the overall position of copper is still relatively light. In addition, the European economy has also bottomed out and demand may improve in the future.

 

 

                         昆明昆宝电线电缆制造有限公司

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