Before the day review: non-farm prices continued weak thin trading today
the plate today, international oil prices rebounded, copper prices get a boost, strong shock today, by the Beijing time 16:00, London metals ( LME） Copper latest offer $4697 up $10. June non-farm data market for us tonight, or to commodity prices such as crude oil and metal extraction solution provide new guidance.
2, domestic futures today Shanghai copper low consolidation, the current month 1607 contracts opened 36970 high low settlement 36590 36500 37030, or 36620 yuan/ton, down 430 yuan, or 1. 16%; Positions, clinch a deal in Shanghai all contracts 587166 hand today, holdings reduce 72 to 592188 hands. Main contract volume 381592, 6044 to 259412 hand more holdings.
3, the spot market spot on July 8, according to statistics, 36670-1 # copper 36690 yuan/ton, compared with the previous deal fell 600 yuan/ton, 110 litres of water to 130 litres of water; Shanghai spot 1 # electrolytic copper 36650 yuan/ton, down 570 yuan, smooth water copper clinch a deal the price down 36630 575 yuan, 36660 litres of copper price fell 575 yuan; Guangdong spot 1 # copper prices at 36660 yuan/ton, down 590 yuan/ton; Huatong spot 1 # copper prices at 36705 yuan/ton, down 600 yuan/ton; Off-season spot copper prices today, meet demand, weak downstream demand, market bearish sentiment, intraday trading co. , LTD. Four, industry information
on July 8, foreign media messages, ubs said that the excess supply copper market this year is expected to reach 22. 50000 tons, mainly due to China's air conditioning demand decreased, due to air conditioning too much inventory backlog, expected this year will produce 10% year-on-year decline in air conditioning. Ubs forecast global refined copper total demand for 23. 4 million tons this year, about half of them are from China. Only the year-on-year increase 5 Chinese copper demand. 8% to digest all the excess supply, but the current forecast copper demand in China will only increase this year 3. 8%. Ubs believes that some of the key factors, such as real estate, power grid investment, demand for copper will drag on. If power grid investment over budget, or at the beginning of 2016 has continued the strong performance of the real estate market, it could boost demand.