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Copper copper review: China's exports surged triggered concerns about the limitation of the rally

by:Deyuan      2020-12-23
Abstract: yellen speech released July rates don't signal and the market risk preference to heat up, copper closed up 1. Copper 36%, China's exports surged sparked a global oversupply concerns, Shanghai copper limited gains, copper material today now stabilized. ( )

today's copper price analysis and forecast:
in the international market on Tuesday, yellen said at the hearing, because of the U. S. economy has considerable uncertainty, low economic growth may be the new normal, the fed's monetary policy decision in taking a cautious approach is appropriate, investors generally understood as the fed would not raise interest rates in July, night market risk preference, copper low open high went up $63 in late, closed at six weeks, the latest closing price to $4700, up to 1. 36%.

the London metal exchange on June 21, according to data released copper inventories to reduce 1850 metric tons to 192175 tons. Cancel the LME copper warehouse inventory than for 22. 28%.

2. Domestic market
1607 contracts opened today Shanghai copper current month 35610 yuan, down 80 yuan, 'Shanghai copper 1607 contract price 35840 yuan rise 150 yuan; May, according to the latest figures, China's copper exports surged 256% to 84959 tons, this part of the speculation that China's export copper may will pass to the LME warehouses, investors worry that a large increase in LME copper stocks will increase global excess scale, today Shanghai copper consolidation is given priority to, material physical copper co. , LTD.

hot financial information
1. Yellen, chairman of the federal reserve's semiannual testimony to congress, said the U. S. economy has considerable uncertainty, low economic growth may be the new normal, the fed's monetary policy in the cautious approach is appropriate, is still expected to slow to raise interest rates. Market is generally believed that yellen's testimony show that in July to raise interest rates is unlikely.

2. Britain withdrew the referendum entered the countdown stage, the market in uneasy calm. Lower risk as a whole, return the positive market risk preference, U. S. and European stocks closed up. The s&p rose 0. 27%, the dow Jones industrial average closed up 0. 14% and the nasdaq rose 0. 14%. The ftse pan-european blue-chip index closed up 300 0. 88%.
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