Copper prices fluctuated at a high level and inventories decreased significantly
Copper: as of April 27, Shanghai copper closed at 73320 yuan / ton, with a weekly change of – 1.56%; The inventory reported 278.91 million tons, with a weekly change of – 41.20%.
Aluminum: as of April 27, Shanghai aluminum reported 20765 yuan / ton, with a weekly change of – 4.70%; The inventory reported 16 Faw Jiefang Group Co.Ltd(000800) 00 tons, with a weekly change of – 14.67%.
Rare earth permanent magnet: as of April 27, praseodymium oxide (lowest price) closed at 860000 yuan / ton, unchanged during the week; Neodymium oxide (lowest price) closed at 876000, with a weekly change of 0.34%; Praseodymium neodymium oxide (lowest price) closed at 840000 yuan / ton, with a weekly change of 1.20%; Dysprosium oxide (lowest price) closed at 2570 yuan / ton, unchanged during the week; Terbium oxide (lowest price) closed at 14370 yuan / ton, with a weekly change of 2.13%.
Investment suggestion: the Fed’s interest rate hike date is approaching, and the Shanghai copper price fluctuates at a high level. The Shanghai epidemic affected the performance of the demand side, but China’s copper inventory fell sharply, which formed a certain support for the price. 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 lower than expected
