The release of production capacity or copper last round of pressure oboni

The release of production capacity or the last round of the Sina foundation pressure copper exposure table: the letter Phi lag of false propaganda, long-term performance is lower than similar products, to buy the fund by the pit how to do? Click [I want to complain], Sina help you expose them! – Huatai futures Wu Xiangfeng recent LME copper stocks continuously increased, affecting the market, copper prices will decline. The copper price decline is mainly due to the release of production capacity, or copper prices suffered in the last round of pressure. At present, the mine pressure is no longer the dominant factor. The larger the expected 2016 new capacity basically has been put into production, the dynamic growth of late only from the production speed, copper concentrate supply pressure has been slow. The current copper concentrate supply pressure has been reflected in the processing costs, followed by the short term basically no new large mines to be put into operation, so the pressure on the new mining capacity of copper prices have been in the past. In addition, the current price of the new mine production is not attractive, continuous production in the absence of new large mines under the condition of existing mines yield potential is limited, so the copper concentrate supply pressure has been relatively small. Refining capacity release is the key. China’s metallurgical production capacity gradually began to appear, 2016-2017, the global refining copper production capacity of up to 1 million 600 thousand tons, and mainly concentrated in china. 2016 foreign refining capacity or to 430 thousand tons, foreign refining capacity is still relatively slow. However, if taking into account the production capacity of 1 million 100 thousand tons China 2016-2017 years will be launched, 2017 of the world’s refining capacity has been added to 1 million 530 thousand tons, basically be able to digest the new copper concentrate production capacity, so the copper concentrate processing fee is very difficult to walk over high expectations. 2016-2017 China refined copper is expected to add production capacity of 1 million 200 thousand tons, basically with the previous capacity on 2016, put pressure on refining capacity has released most of the late pressure mainly in 2017, has nearly 800 thousand tons of production capacity on the pressure. By then, the copper concentrate processing costs are expected to decline, and China intends to cast smelting capacity is relatively large. With the introduction of new smelting capacity in China, the new capacity to digest the dominant logic. From the domestic demand, can not be changed without changing the breakdown of other parts of the consumption of new smelting capacity, so only through the exclusion of refined copper imports and increase exports of refined copper channels to digest. July refined copper export data has shown this possibility. If China gradually reduces imports of refined copper and refined copper exports, it is equivalent to the pressure of China’s refining capacity from domestic to international markets. The incremental demand of current international market is mainly concentrated in the Southeast Asian economies, although the growth rate of this part of the economy, but the volume is small, is still not included in these incremental. Looking ahead, the copper industry chain or usher in differentiation. China’s new production capacity and production capacity began to introduce the market, because the country can not fully digest, only through the exclusion of imports of refined copper and scrap copper share. However, due to the high rate of international refining production capacity, there is a downward flexibility, so the supply of refined pressure theory相关的主题文章: