In 2010, copper prices experienced a wide range of shocks, and the rising prices at the end of 2010 made copper prices continue their strong starting at the beginning of 2011. Overall, the trend of copper prices in 2011 can be divided into four stages.
Phase I: Refreshing highs At the beginning of 2011, copper prices hovered around $9,500/t, entering the Chinese New Year holidays in February. Along with the improvement of economic data in China and the United States, the depreciation of the US dollar and the rise of the global commodity market, Lun Copper broke through. The 10,000 mark hit a record high of US$10,190/tonne on February 15th, but the price of copper did not successfully stabilize above 10,000 points, and then it oscillated around the range of US$9500-10000/ton.
Phase II: Falling Down In March 2011, due to the impact of the Japan earthquake, the global financial market fell into a panic, and copper prices also retreated most of the previous gains. The lowest fell below 9,000 U.S. dollars/ton to reach the low price of 8944 U.S. dollars/ton. . Since then until May, the price range of copper prices has intensified, and the fluctuation range of 9,000-10,000 USD/ton has not been able to be broken. The maximum price has risen to 9,945 US dollars/ton, and the pressure on the 10,000 mark has become apparent.
Phase III: Wide shocks In May-August 2011, copper prices fluctuate due to the global financial market. Due to mixed news on the European debt crisis and the U.S. economy, copper prices have been affected by the volatility. At the beginning of May, due to the news that the European debt crisis was deteriorating again, Lonco copper fell back to US$8,500/ton, and then with the fall of the US dollar and the positive factors of the spread of many mines in Chile, Lun copper gradually recovered. Eventually rebounded back to 9900 US dollars / ton, the shock range expanded to 1,500 US dollars / ton.
Phase IV: Intensive Callback After the end of August 2011, the trend of copper price correction was even more pronounced, especially in mid-September due to the intensification of debt problems in Europe, the United States QE3 has not been implemented for a long time, and London Copper has pulled back sharply for several days, starting from early September. The price of 9,000 US dollars / ton fell to the lowest level since 2011 of 6336 US dollars / ton, a drop of up to 27%. Afterwards, the decline was restored, and once it rose to above 8,000 US dollars/ton, but after this round of callback, the overall fluctuation range was shifted downwards. The copper price started a long turmoil and the turbulence range was always around 7200-8000 USD/ton.
Phase I: Refreshing highs At the beginning of 2011, copper prices hovered around $9,500/t, entering the Chinese New Year holidays in February. Along with the improvement of economic data in China and the United States, the depreciation of the US dollar and the rise of the global commodity market, Lun Copper broke through. The 10,000 mark hit a record high of US$10,190/tonne on February 15th, but the price of copper did not successfully stabilize above 10,000 points, and then it oscillated around the range of US$9500-10000/ton.
Phase II: Falling Down In March 2011, due to the impact of the Japan earthquake, the global financial market fell into a panic, and copper prices also retreated most of the previous gains. The lowest fell below 9,000 U.S. dollars/ton to reach the low price of 8944 U.S. dollars/ton. . Since then until May, the price range of copper prices has intensified, and the fluctuation range of 9,000-10,000 USD/ton has not been able to be broken. The maximum price has risen to 9,945 US dollars/ton, and the pressure on the 10,000 mark has become apparent.
Phase III: Wide shocks In May-August 2011, copper prices fluctuate due to the global financial market. Due to mixed news on the European debt crisis and the U.S. economy, copper prices have been affected by the volatility. At the beginning of May, due to the news that the European debt crisis was deteriorating again, Lonco copper fell back to US$8,500/ton, and then with the fall of the US dollar and the positive factors of the spread of many mines in Chile, Lun copper gradually recovered. Eventually rebounded back to 9900 US dollars / ton, the shock range expanded to 1,500 US dollars / ton.
Phase IV: Intensive Callback After the end of August 2011, the trend of copper price correction was even more pronounced, especially in mid-September due to the intensification of debt problems in Europe, the United States QE3 has not been implemented for a long time, and London Copper has pulled back sharply for several days, starting from early September. The price of 9,000 US dollars / ton fell to the lowest level since 2011 of 6336 US dollars / ton, a drop of up to 27%. Afterwards, the decline was restored, and once it rose to above 8,000 US dollars/ton, but after this round of callback, the overall fluctuation range was shifted downwards. The copper price started a long turmoil and the turbulence range was always around 7200-8000 USD/ton.
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