One, the trend analysis

At the beginning of the first half of 2015 prices plunged, then shock rise to decline in May, after the shock, the last small become warped, the overall copper prices fell sharply, domestic copper prices earlier this year in 46560 yuan/ton, the end of the first half in 42798.75 yuan/ton, or 8.08%.

Second, the market analysis

Copper prices tumbled in January, weak fundamentals pattern cannot alter, excess supply continues to drag on copper prices tumbled. Copper concentrate relatively abundant supply, processing, and in the fourth quarter impulse makes smelters to full production, domestic copper production, output of 713500 tons, in September, 2014 October a record 732700 tons, in the fourth quarter of production continue to remain high. Smelting, copper smelting enterprises starts from 2013, 2014, but the downstream enterprises was inadequate. Copper smelting enterprises starts in August 2014, at 91.15%, rose 1.90%, year-on-year increase of 3.93%. Smelting enterprises operating at high, but the downstream demand is insufficient, lead to copper supply greater than demand. Import and export customs data also showed that China's copper imports in 2014 increased by 7.4%, hitting a record high, because of the large single cargo increase; In China in 2014 4.83 million tons of copper and copper imports hit not forged, more than 2012 years and a record high of 4.65 million tons. In addition, oil prices continue to slump, the global economic downturn is also one of the main factors of copper prices fell.

At the end of January to may, copper rose concussion. One is macro and fundamentals to improve, make basic metal outside dish rise, conveniently pull up the domestic spot. Second, in response to copper prices fell, domestic copper smelter to discuss production, is expected to be in a month production, copper prices rebounded. 3 it is news that the store will purchase 20000 tons of copper, and this year at least 200000 tons of copper, although rumours it is difficult to confirm, but the purchase message back confidence in copper prices constitute a strong support. Because of the recent copper price now, movements still performance shocks, in the short term concerns did not slow down, so the domestic copper prices high. Also combined with the downstream demand was slow, affected by order quantity generally is not high, even near the holiday at present, the goods is still not much, many businessmen said to goods falling due to market, they can only a small amount of shipment, offer the traders is relatively low. At the same time, for the sake of short-term market difficult for outstanding performance, some businesses also give up continue to receive the power, the market clinch a deal the insipid.

After the decline in copper price shocks. Due to a strong dollar over China's economic data to improve the influence of base metals all the decline. And copper pattern of spot market oversupply, the spot price fall. 2015 years ago, two months, the global copper market oversupply high, supply demand is more than 115000 tons. The ICSG expected this year, the global copper market will the excess supply of 364000 tons. Weak spot in the short-term market demand, the copper price now to continue weakening trend, so the market proved. But within recent support from downstream consumption level is still limited, so, or will continue to shake the overall market, and clinch a deal difficult to significantly improve performance.

Third, afternoon

In the afternoon, relationship between copper spot supply and main copper consumer stimulus measures of the people's bank of China is still the main effect of copper. Supply the sustained release of copper prices to bring pressure, plus copper consumption in China and to enter into the off-season, so July copper prices are still expected to weak fell 4% to 41300 yuan/ton, with the advent of golden nine silver ten, copper prices will rise by 3% to 42500 yuan/ton.

                                                                       Nanjing DingYing electronic Technology Co., Ltd.