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Institutions are optimistic about the ability of copper prices to rebound.
2019-05-14
Since April 17, copper prices have continued to weaken. LME 3-month copper prices fell from $6608.8/ton to the current $6118/ton, and hit a three-month low. However, the industry pointed out that from the supply and demand, the dollar and other factors, copper prices have the potential to rebound in the near future.
Analysts pointed out that the recent negative factors that have led to the decline in copper prices are tending to ease. First of all, the failure of the Fed's interest rate cut expectations caused the U.S. dollar to counterattack or the direct cause of the sharp decline in the prices of copper and other non-ferrous metals. As the U.S. dollar remains strong, To the formation of a more relaxed stimulus policy, when inventories rose, the negative impact of bad news instantly formed a selling wave, causing copper prices to fall. However, the latest news shows that the US economic data is acceptable, and the Fed's monetary policy that the Fed will not cut interest rates has also been digested 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. In view of the possible improvement of Chinese demand, 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.
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