Copper prices have risen 9.5% this year. Futures and spot prices are plunging.

On February 13, the futures and spot prices of domestic non-ferrous metals copper ushered in skyrocketing.
According to the monitoring of the business community, the market price of copper in the Yangtze River Nonferrous Market on February 13 was 49,580 yuan / ton, up 2,730 yuan / ton in a single day; the price of copper in Guangdong Nansui colored market soared to 49,880 yuan / ton, approaching 50,000 yuan / ton The mark rose by 3020 yuan/ton in a single day, up by 6.4%. On the futures market, on February 13, the Shanghai copper 1703 contract closed at 49,870 yuan/ton, up 4.75% in a single day. In addition, on December 30 last year, the average price of copper spot quotations in the three major non-ferrous trading markets in China was 45030 yuan / ton. On February 14 this year, the average price of copper spot quotations in China was 49317.5 yuan / ton, which means that this year The price of copper rose by 9.5%.
The news of soaring copper prices directly stirred up the home appliance industry. Some people involved in air-conditioning manufacturers said that it is expected that the entire industry will raise prices again from March to April this year.
"Daily Economic News" reporter learned that in December last year, due to rising prices of raw materials such as copper prices, domestic air-conditioning manufacturers forced a concentration of "screaming" due to cost pressure.

Copper spot price increase is mainly affected by external influence
Liu Meimei, a business analyst with a color in the business, told reporters that on February 13th, the futures and spot prices of metallic copper rose mainly due to the news of the world’s largest copper strike and the second largest copper mine in Indonesia. When the non-ferrous metals rose, the price of copper did not increase much. Now, once the concept is promoted, the increase will be larger.
According to a Reuters report on February 8, BHP Billiton has suspended production operations at the Escondida copper mine in northern Chile, as local workers will go on strike last Thursday. The Freeport McMullen Copper and Gold Company also issued a warning on the same day, saying the company will cut production at the Grasberg copper mine in Indonesia (the world's second largest copper mine).
"This round of copper price has already digested almost the same. I don't think there will be a big increase, but it will not fall. Because after the Lantern Festival, the factory is in the peak season, and the demand will increase." Liu Mei said that London Stocks of the Metal Exchange (LME) have remained high, stocks have been under pressure and production capacity has been excessive. Therefore, it is expected that the copper price will not have a big upward momentum.
The reporter noted that the news of the surge in copper prices on February 13 caused a great response in the downstream industries such as wire and cable and home appliances.

Air-conditioning costs rose by 4.5% to 5%
Affected by the continued rise in prices of raw materials such as copper, aluminum, plastics and liquid crystal panels in November last year, the home appliance industry ushered in a concentrated price hike in December last year. The reporter’s official letter of price increase in December last year showed that “the price of bulk materials for air conditioners has continued to rise since the second half of 2016. As of November, the price of copper, the main raw material, has risen by 40%, continuing at the level of 49,000 yuan/ton. The price of steel has risen by more than 200%, the price of plastics and aluminum has increased by more than 30%, the labor cost has been increasing, and the logistics cost has increased by more than 30% due to factors such as exceeding the limit load. The raw materials, labor costs and logistics costs have increased. The arrow has been issued, and there is no sign of a downward adjustment in the later period. The domestic mainstream brands have fully implemented the price increase in November."
At that time, some insiders revealed in an interview with the "Daily Economic News" that the terminal price of air-conditioner hangs generally rose by about 200 yuan, or 5% to 8%. Refrigerator manufacturers also said that the cost of manufacturing ends increased by 10% to 20%.
On February 13th, when copper prices soared, a domestic air-conditioner related person said, “Today copper prices have broken through the previous highs, and air-conditioning costs will rise by at least 4.5% to 5% from the budget at the end of March. It is expected that the whole industry will raise prices again from March to April. It has become a foregone conclusion." The relevant person told reporters that the company had previously estimated the cost of air-conditioning production by combining raw material costs such as copper prices. It is understood that copper accounts for more than 20% of air conditioning costs.
Zhang Yanbin, dean of the Avi Cloud Network (AVC) Research Institute, said in an interview that the rise in copper prices should be extended to air-conditioning products. According to the procurement period of the company, it takes at least half a year. If the air-conditioning giant does not explicitly say that it wants to raise prices, then other manufacturers will not rise, because it will not sell if it rises.

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