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2002年1～10月份铜的均价下移到1572美元,成为1995年以来均价最低的年份。加上长期意义上的价格运行轨迹呈现出高点及低点依次下移的状态,因而铜价仍处于长期熊市格局之中。 虽然受到全球大规模减产的刺激,2001年11月铜价从近15年的低点大幅反弹,随后安然事件以及美国经济的一度回升使铜价的反弹在今年上半年得到延续。但进入6月份铜价上升的格局终于无法继续保持。虽然10月份铜价出现回升,但依然没能改变长期下跌趋势。由此可见今后相当一段时间内市场仍将继续为改变长期的熊市格局而努力。
From January to October 2002, the average price of copper moved down to 1,572 U.S. dollars, making it the year with the lowest average price since 1995. Coupled with long-term sense of price trajectory showing a high and low in turn down the state, so the copper price is still in the long-term bear market pattern. Despite the massive global production stimulus, the price of copper rebounded sharply from its lowest level in recent 15 years in November 2001, and the ensuing Enron event and the economic recovery in the United States continued the rebound of copper prices in the first half of this year. However, the pattern of rising copper prices in June finally failed to maintain. Although the price of copper rebounded in October, it still failed to change the long-term downtrend. This shows that for a considerable period of time in the future, the market will continue to work hard to change the long-term bear market.