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Copper copper review: policy expectations Shanghai leave high to go lower

by:Deyuan      2020-12-23
Abstract: by a weaker dollar, basic metal broadly higher on Friday, copper closed up $55, expectations of China will launch a further stimulus to support Shanghai copper, spot copper is expected to rise today. ( )

today's copper price analysis and forecast:
a. International market
a weaker dollar support base metals, weeks acquisition of high copper closed at nearly two months, the latest closing price at $4906 rose $55, up to 1. 13%, China's weak manufacturing data released on Friday, the global economic outlook negative for the fed to raise interest rates in the next couple of months the possibility of falling; Short-term copper or strong shock.

the London metal exchange, according to data released on July 1, copper inventories to reduce 2400 metric tons to 189125 tons. Cancel the LME copper warehouse inventory than 27. 48%.

2.
in the domestic market in Shanghai today opened lower after the higher, the current month 1607 contracts opened 37200 yuan, down 160 yuan, the territory of Shanghai copper 1607 contract price 37630 yuan rise 270 yuan; Association of the National Bureau of Statistics and purchasing data showed on Friday, China's official June manufacturing PMI fell to 50, flat vicissitudes line, but less than 50. 1, the prospect of China's data to strengthen the deterioration of the global economic growth, or suggest that copper demand will reduce further, but the Chinese government's stimulus policy is expected to lift market sentiment in the short term, today in Shanghai is expected to be stronger, spot copper is expected to rise.

hot financial information
1. The National Bureau of Statistics services research center and the China federation of logistics and purchasing jointly issued on July 1, according to data, manufacturing PMI for 50 in June. 0%, fell 0. 1%. Goods released on July 2, the new China manufacturing PMI also declining trend, the index fell in June to 48. 49 6%, than in May. 2% back slightly.

2. The institute for supply management ( ISM) Released data show that the United States in June ISM manufacturing index of 53. 2, more than expected and 5 surveys of 51. 3. The prices paid index of 60. 5 63 less than expected. 5, but the new orders index 57 55 more than expected. 9.
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