As the world's largest copper producer, the news that Chile closed its border has also triggered market concerns about copper supply. The Chilean Ministry of Energy and Mines previously responded that the closure of the border will not affect the normal operation of maritime transportation and mining enterprises.
However, the international copper price fluctuates greatly. On April 6th, the price of copper futures on the London Metal Exchange rose by 3.6%, breaking through the $9,000 mark per ton to $9 104 per ton, a two-week high. Earlier, the price of copper futures in the New York Mercantile Exchange once hit the biggest increase in six weeks on April 5.
Extended data:
Seven copper stocks fell more than 20%
When talking about the future prospects of the copper industry, Jiangxi Copper said that on the one hand, due to the large-scale use of vaccines, major economies are in a period of strong recovery after the epidemic, and the manufacturing index of various countries has rebounded, which will continue to stimulate the consumption of non-ferrous metals such as copper in the short to medium term;
On the other hand, with the promotion of the strategy of "peak carbon dioxide emission" and "carbon neutrality", the actual demand and expectation for copper in new infrastructure construction, photovoltaic, wind power, energy storage, new energy vehicles and supporting fields have been significantly enhanced. It is expected that the copper market will continue to maintain a high volatility trend.
Judging from the performance of the secondary market, since the beginning of this year, four copper stocks in * * * have increased by more than 10%, namely, electrical alloy, Xinke Materials, Liang Hai and Jiangxi Copper, among which electrical alloy ranks first with an increase of 26. 17%.
In February, after a round of hot speculation, individual stocks in the copper industry were greatly adjusted. The data shows that seven stocks retreated more than 20% from their highs in the year, namely Yanfen, Jiangxi Copper, Jiayuan Technology, Yuntong, Chujiang New Materials, Pengxin Resources and Weber Alloy.