Hedging in a one side market is dangerous as a lot of working capital would be utilised just to keep your positions going on.

• 现货市场冶炼费用的增加预示铜精矿的供应增加，而年度冶炼费用从11月份113美元/吨下降至明年的90-95美元/吨，是否预示铜精矿供应紧张预期？