Copper and aluminum prices today
Copper price: 73,320 yuan/ton, down 560 RMB/ton
Aluminum price: 22,890 yuan/ton, down 100 RMB/ton
Market analysis
Reference tips:
The severe epidemic situation has weakened demand expectations, and the copper price has fallen, which is in line with the judgment, but the spot premium is still high, which will limit the downward space. The retracement is expected to be around 72,000 [spot price 72,500]. If there is demand, the inventory will be replenished when the price is adjusted to a low level.
The supply uncertainty brought about by sanctions against Russia has limited the adjustment range of aluminum prices, but the pressure of 23,500 in the short term is obvious, and it is expected to retrace 22,500. Wait for the low point to fall back to the library.
