On December 22, the price of copper rose slightly. The spot price was RMB 69,481.67/ton, an increase of 0.08% from the previous day, an increase of 19.89% from the beginning of the year, and a year-on-year increase of 18.61%.US stocks rebounded and boosted, LME copper closed up more than 1% overnight. The shutdown of Peru mines disrupted the supply of copper concentrates. In November, the domestic power curtailment policy was relaxed, and the operating rate of downstream processing enterprises has rebounded significantly.
However, the low demand season is approaching the end of the year, and the downstream procurement willingness is low. The short-term copper price still maintains a range-bound trend.
Related listed companies: Jiangxi Copper (600362), Tongling Nonferrous (000630), Yunnan Copper (000878).
