Price Overview - On March 22, 2024, the main contract price of copper futures on the Shanghai Futures Exchange closed at 72,680 yuan per ton, a slight increase of 230 yuan from the previous trading day [1] - The average price of electrolytic copper in the spot market ranged from 72,620 yuan to 72,920 yuan per ton, with an average of 72,770 yuan per ton, up 20 yuan from yesterday [1] - In Guangdong, the price was slightly higher, ranging from 72,830 yuan to 73,130 yuan per ton [1] Scrap Copper Prices - In Shanghai, the price for bright copper wire (commonly referred to as 1 copper) ranged from 68,200 yuan to 68,500 yuan per ton, while the price for purple mixed copper was between 65,900 yuan and 66,200 yuan per ton [2] - In Guangdong, the price for bright copper wire was higher, ranging from 68,600 yuan to 68,900 yuan per ton, and purple mixed copper was priced between 66,300 yuan and 66,600 yuan per ton [2] - Prices in other regions like Tianjin and Zhejiang also fluctuated but varied based on quality and transaction volume [2] Factors Influencing Copper Prices - The demand for copper, as a crucial raw material for industrial production, directly impacts its price, with increased demand during economic recovery and infrastructure projects [5] - The price trends on the London Metal Exchange (LME) serve as a global benchmark for copper prices, often influencing domestic prices [5] - Stricter environmental policies and restrictions on scrap copper imports also affect copper pricing [7] Relevance of Copper Price Fluctuations - The fluctuations in copper prices are significant for household financial decisions, as individuals can sell scrap copper at opportune times to increase income [7] - For scrap recycling businesses, copper price volatility directly impacts profit margins, necessitating accurate market assessments [7] - Some investors view copper as an investment vehicle, participating in futures and stocks to benefit from price increases [7] Conclusion - Overall, on March 22, 2024, copper prices exhibited a stable upward trend, making both spot and scrap copper markets worthy of attention [9]