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今年铜出现了现货价格波动幅度比期货更大的罕见现象,传统意义上“价差风险远低于价格风险”的理念受到了极大挑战。贸易企业必须将更多的精力放在研究国内市场现货供求关系中短期变化上,才能更好地适应这种新局面。2014年一季度,铜价震荡下跌,由1月2日最高7460美元/吨跌至3月19日6321美元/吨,与此同时,国内外市场铜价差也由0附近大幅下降,3个月期铜的无税价差最低达到-1800元/吨以下。之后铜价小幅震荡反弹,国内外市场铜价差也小幅好转,这种价格与价差同向波动的局面实属罕见,也给电
This year copper appeared spot price volatility bigger than futures rare phenomenon, traditionally “spread risk is far lower than the price risk ” concept has been a great challenge. Trade enterprises must focus more on the short-term changes in the spot supply-demand relationship in the domestic market in order to better adapt to this new situation. In the first quarter of 2014, the price of copper dropped and dropped from the highest of $ 7460 / tonne on January 2 to $ 6321 / tonne on January 19, meanwhile, the copper spread in domestic and overseas markets also dropped sharply from around 0 and 3-month copper The lowest tax-free spread to reach -1800 yuan / ton. After a slight rebound in copper prices rebound, domestic and foreign markets, copper spreads also slightly improved, the same price and spread fluctuations in the situation is rare, but also to power