Copper prices rebounded and inventories continued to go
Copper: as of April 6, Shanghai copper closed at 73720 yuan / ton, with a weekly change of 1.07%; The inventory reported 394.77 million tons, with a weekly change of – 10.75%.
Aluminum: as of April 6, Shanghai aluminum reported 22540 yuan / ton, with a weekly change of – 2.13%; Inventory reported 177673 million tons, with a weekly change of 4.59%.
Rare earth permanent magnet: as of April 6, praseodymium oxide (lowest price) closed at 940000 yuan / ton, with a weekly change of – 3.49%; Neodymium oxide (lowest price) closed at 973000, with a weekly change of – 5.63%; Praseodymium neodymium oxide (lowest price) closed at 905000 yuan / ton, with a weekly change of – 6.41%; Dysprosium oxide (lowest price) closed at 2620 yuan / ton, with a weekly change of – 6.09%; Terbium oxide (lowest price) closed at 13070 yuan / ton, with a weekly change of – 4.39%.
Investment suggestion: the market is still trading inflation recently, the overseas copper inventory remains low, and the copper price fluctuates at a high level. China has experienced the Qingming holiday, the demand side performance is weak, but the inventory continues to go, the supply and demand structure is improving, and the price continues to rebound. It is suggested to pay attention to Zijin Mining Group Company Limited(601899) .
Risk tip: the global economic recovery is less than expected; US inflation remains high; The production and sales of new energy vehicles are lower than expected; The energy crisis eased more than expected; The demand for magnetic materials is less than expected; Rapid recovery of supply in Myanmar; Power rationing less than expected
