Shanghai Copper is greatly influenced by Lenton, and the fundamentals such as domestic spot inventory will have a considerable impact. Secondly, the trend of the dollar affects Shanghai copper, and the appreciation of the dollar will lead to the decline of all commodities, just like crude oil. But copper will follow its own trend, which will be affected in the short term and not in the long term.

Factor affecting that price of Shanghai cop futures

Factor 1: Production situation of producing countries Chile is the country with the richest copper resources in the world and the largest copper exporter. Zambia and Zaire in Central Africa are also important copper producers. Almost all the copper they produce is used for export, and their production has a great influence on the international copper market. The political situation in these three countries has been unstable, and labor disputes often occur, which also has a direct impact on copper prices.

Factor 2: The correlation between international economic situation commodity market and economic situation is obvious, especially in today's increasingly globalized world economy, the correlation between commodity market and economy is greater, so the correlation between copper price and economic situation is stronger. The consumption of copper is mainly concentrated on developed workers.

Industrial countries, such as the United States, Japan, Western Europe and other countries, have great influence on copper prices. Generally speaking, when the economic situation is good, the demand for copper increases and the price rises, and vice versa.

Factor three: the influence of industrial policy.

Because copper is mainly used in power, electronics, construction, machinery, transportation and other industries, the national industrial policies for these industries have a more important impact on copper prices.

Factor four: seasonality affects the seasonal fluctuation of copper prices.

Every year 1 month is a low point, and August is a high price.

Factor 5: The influence of inventory is one of the important factors affecting copper prices. Under different market conditions,

Different measures will be taken to increase or decrease the inventory. In order to ensure the production of raw materials or accelerate the flow of funds, we will also use the throughput reserves in different periods to stabilize the copper market.

Factor 6: The influence of other policies and regulations Because the copper market is an international market and the international trade volume is very large, so

Changes in import and export policies, exchange rate system and the efforts of relevant countries to crack down on smuggling will also have an impact on copper prices.

Factor 7: Substitute price In the telecommunications industry, copper has always been an important raw material. However, due to the popularization and application of optical fiber technology, the status of copper cable has been challenged. At the same time, metal materials such as aluminum have the same properties as copper and have replaced copper in most application fields.