I. Trend analysis
As shown in the chart above, the copper market price on August 14 was 46648.33 yuan/ton, up 0.16% from the previous trading day, down 3.14% from the beginning of the year and down 4.35% from the same period last year, according to the data of business associations.
| PVA 0599 (PVA BF05) |
II. Market Analysis
Recent copper price shocks are mainly narrow. Basically, on the supply side, copper supply continues to be tight. Jianeng’s Zambian company closed two copper mines. If miners do not invest more capital, there will be a shortfall of 1 million tons in 2024 and about 4 million tons in 2028. On the demand side, downstream start-up data show that household appliances orders are weakening. From January to June, the cumulative value of investment in power grid capital construction was 164.4 billion yuan, a cumulative decrease of 19.3% over the same period of last year.
| PVA |
3. Prospects for the Future Market
In summary, the copper analysts of the non-ferrous branch of the business association believe that the short-term copper prices or shocks are strong, supported by the import ban on scrap copper in the case of weak supply and demand.
| POLYVINYL ALCOHOL |