What is the reasonable range for copper prices?
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As the Year of the Ox begins, the prices of non-ferrous metals are of concern to everyone working in the metallurgy industry. These days, the copper price has remained stable around 27,500; I believe there is still room for further declines in copper prices. What’s your opinion?
At present, based on its price trend, copper’s adjustment is not yet over. If crude oil prices fall again, it will increase the downward pressure on copper prices; meanwhile, an appreciation of the US dollar against the yuan will provide room for copper prices to rebound.
In my opinion, there won’t be significant changes in copper prices in the short term; there will be a certain degree of decline, primarily driven by inventory levels. Once that inventory is largely consumed, prices will start to rise
The economic fundamentals, both internationally and domestically, will continue to deteriorate. The massive financial efforts made by various countries to stabilize their economies can only provide temporary relief; they cannot prevent further economic decline. In the first quarter of 2009, non-ferrous metals may experience a seasonal rebound of modest intensity, but its strength and duration are likely to be rather limited.
With the introduction of various policies aimed at boosting domestic demand, as well as the upcoming plan to revitalize the non-ferrous metals industry, copper prices are expected to experience a seasonal rebound; subsequent adjustments will depend on the support provided by the market. Copper prices are expected to fluctuate between 30,000 and 35,000 yuan per ton in 2009.
Not yet at the bottom; things seem a bit optimistic domestically, but the international situation is poor.
The situation this year isn’t optimistic; it seems unlikely that the price will drop below 27,000, but it will also be very difficult for it to rise. The estimated price in 2009 was between 20,000 and 30,000.
It will rise; it will definitely reach 30,000. Many companies abroad have reduced production, and as demand increases once the economy recovers, prices will surely go up
I personally think a copper price of 45,000 is reasonable.
I think copper prices this year will not exceed 30,000, as the production cost of copper is not high. Although reduced production can help lower inventory levels, the existing inventory is still quite high. Due to economic recovery, prices might rise a bit, but they will not go above 30,000.
The current price of copper might be just right, or it could be fluctuating slightly around that level. The price of copper before the financial crisis in 2008 was somewhat inflated!
The current price is around 30,000. However, the current price increase is driven by our **storage of non-ferrous metals and is temporary. In the second half of the year, the effects of the economic crisis, along with new projects for building large smelters in our country, all came into play during that period, resulting in an increase of around 1 million tons. Copper prices will definitely fall in the second half of the year; 18,000–20,000 is a reasonable range.
The copper processing fee is fixed, while the price of copper fluctuates according to the price of copper concentrate.