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Copper Market Overview
2020-3-20

Under the great pressure of the epidemic, many countries, including the United States, have introduced favorable measures to rescue the market. LME copper was supported and rebounded to around 4,700 U.S. dollars after approaching its low in January 2016. However, due to the deep impact of the global epidemic, the lack of confidence in funds has greatly increased, so the copper price has only shown a slight rebound for the time being, with SHFE copper futures rebounding to around 38,000 and the market is waiting for more measures to rescue the market. Judging from the current general environment, the impact of the international epidemic will continue and deepen the market's worries about the economy. It is expected that although there are many measures to rescue the market in the future, under the influence of consumption and great psychological pressure, most of the funds will be used for short-term profit-making. It is expected that the copper industry will suffer from the above factors repeatedly and still have some downward space.

 

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