In the current downward pressure on non-ferrous metals, copper is still hovering in a higher price range, but the industrial chain benefits from hot and cold uneven.
Upstream mines, including Zijin Mining (601899.SH) and Luoyang Molybdenum (603993.SH), have sufficient power to expand production, and the profits of midstream smelting links have also risen under the background of high supply of raw materials.
Copper downstream processing industry has fallen into the general volume, a copper processor in Guangzhou to Cailianhe reporter said: "The premium is too high, some time ago was close to a thousand yuan per ton, the money has been earned upstream, a single amount can also be, that is, the profit is very low, some small factories have been rolled has closed."
A number of industry insiders told CailianNews that under the current situation of low inventories, affected by factors such as macro favorable conditions and the continuous rise in copper demand in the new energy field, the copper market is more optimistic about the future.
