[ annual meeting] copper price: winter has already come spring has come!

  •  October 26-2017 copper prices soared in 2016 to a higher level, on the basis of year-to-date, Shanghai index has risen more than 20%, and about 2018 movements,  copper senior analyst Keith yip in  hosted the 2017 annual meeting and 2018 () of China nonferrous metals industry, non-ferrous metal prices forecast conference ", said on copper center of gravity in 2018 is expected to move up, outside dish for an average of about $6800 - $6900 / ton, 53000 yuan/ton at home.

    Supply side: due to the long-term low price of copper in previous years, the asset investment of major copper companies in the world has slowed down, and its cycle has been affected in recent years. The growth of the ore terminal supply will gradually decrease after 2018. SMM is expected in 2017, the rate of ore supply disturbance, mine supply growth worldwide - 1% growth in 2018 rose to 3.3%, reduced metal quantity is 650000 tons, of which the amount of incremental in 110000 tons of metal from China.

    By the end of 2018, the ban on imports of seven kinds of waste copper, environmental protection, and import policies will lead to a significant reduction in the amount of scrap copper imports. With the increase of production capacity of China's smelting capacity in the next 2-3 years, domestic smelters have become more dependent on imported copper concentrate. The supply pressure of the ore is gradually revealed due to the expected shrinkage of the global mine supply and the release of smelting capacity.


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