According to Sina Finance, in 2006, the copper price reached about 80,000 yuan per ton, and in the following 15 years, the copper price was always between 40,000 yuan and 60,000 yuan. Last year, the epidemic swept the world, and then the world's major economies continued to expand the money supply to stimulate the economy. At present, the copper price has soared to more than 70,000 yuan, setting a new high of nearly 15 years.

According to Xinhua News Agency, China will auction another 30,000 tons of copper, 90,000 tons of aluminum and 50,000 tons of zinc in the national reserve on July 29th. However, the auction reserve seems to be less than the market expectation, and the reaction of copper price to the second round of selling reserve is dull, but the attitude of the State Reserve to stabilize copper price continues to strengthen. Accordingly, we believe that there is no fundamental force that continues to push up copper prices.