on the 16th, the price of copper dropped slightly. the spot price was rmb 68,508.33/ton, n 0.64% from the previous day, up 18.21% from the beginning of the year, and up 18.28% year-on-year.
inflation in the united states continued to soar, and lme copper closed n us$131 overnight. the domestic economic data in november fell short of expectations, suppressing copper prices. after the nstream power limit and production limit are over, the pre-orders are mostly digested. the operating rate of copper cables rose back to 85.55% in november, an increase of 5.1% from the previous month. the cable operating rate is expected to fall again in december. the operating rate of domestic copper rods was 65.79%, a week-on-week drop of 2.31%. at the same time, the supply of scrap copper continues to be tight. copper inventories are low, and copper prices may maintain a narrow fluctuation trend in the short-term.
related listed companies: jiangxi copper (600362), tongling nonferrous (000630), yunnan copper (000878).
