Internal And External Stage Resonance, Copper Prices Are Still Expected To Rise!

On the macro side, the current overseas inflation expectations are still supportive factors for copper prices. The market expects the Pace of Federal Reserve policy to lag behind the performance of inflation. The minutes of the Federal Reserve's latest March rate-setting meeting were more hawkish than the market expected.

On the domestic front, the epidemic in Shanghai has touched people's hearts, but it also makes the market worried about terminal demand, and it urgently needs to increase measures to stabilize growth. The second quarter is the peak manufacturing season, downstream there are raw material replenishment expectations.

According to CCMN data, as of April 7, the Yangtze River spot 1# electrolytic copper 73870-73910 yuan/ton, the average price of 738900 yuan/ton, compared with the previous trading day down 160 yuan, 260-300 litres. Luntong was last quoted at $10312 / ton, up $10, or 0.1%, at 15:01 GMT. Shanghai copper closed at 73,410 yuan/ton, down 300 yuan or 0.41%.

In the internal and external stage resonance, the price is actually still upside expectations.

The pace of domestic and foreign markets is slightly different, and the domestic epidemic adds to uncertainties. The market may have anticipated the adverse impact of the epidemic first. Foreign intensive interest rate hikes in May and June, the financial market may anticipate the impact of interest rate hikes in advance at some point.

Therefore, CCMN is expected in April copper prices or to maintain a weak and strong trend, and the weak and strong situation is expected to be repaired in the second quarter.