1, copper supply and demand relationship

According to the principle of supply and demand, when the supply of copper exceeds the demand, the price of copper falls, and vice versa. One of the most important indicators of copper supply and demand is copper inventory, which traders have to pay attention to.

2. Global macroeconomics

Copper is an important raw material, and its demand is closely related to the global economic situation. Simply put, when the economy is booming, the demand for copper increases, which drives the price of copper to rise.

3. Policies of major copper producing and consuming countries

For a long time, because China is a big country with insufficient copper resources, it has always adopted the policy of "lenient import and strict export" in import and export, and the average export tax rate of copper and copper products is much higher than the import tax rate. In the past two years, with the basic balance of domestic copper supply and demand, the state has gradually reduced export tariffs, and copper can basically be imported and exported freely.

4. Changes in the development trend of copper-related industries

In a word, there are many factors that affect prices in spot copper, but they can basically be summarized as two main factors: the macroeconomic situation and the relationship between supply and demand. Whether it is inventory, interest rate, crude oil price, exchange rate changes and other changes in copper prices, they can be divided into these two aspects.

Judging the general market trend of copper by looking at these influencing factors, I personally think that the technical analysis of the pictures is a bit illusory, all of them are made by people themselves, so don't delve into the technical aspects, and you can't learn them well overnight.