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Copper review: China demand is expected to improve copper vibration rise further

by:Deyuan      2020-12-23
Abstract: the fall in the dollar makes commodities vibration, night Aaron leave high to go high copper closed up 1. Six weeks to 64%; Copper inventories fell at home and abroad, the expectations of China needs to improve support prices, is expected this copper rose now.

today's copper price analysis and forecast:
a.
in the international market investors before the fed meeting resolution results in profits, evening copper weak consolidation, closed down $14, the latest closing price quote $4767, or 0. 29%; Volume 10503, 335738 holdings of an increase of 5618 hands.

the London metal exchange on September 22, according to data released copper inventories to reduce 1750 mt to 346050 mt. Cancel the LME copper warehouse inventory ratio of 15. 38%.

2.
in the domestic market in Shanghai today opened higher, 1610 contracts opened the current month of 37710 yuan, up 210 yuan, 'Shanghai copper 1610 contract price of 37730 yuan, up 230 yuan. Recent domestic copper inventories continue to decline, as the Mid-Autumn festival in the week, the Shanghai copper stocks of the previous period to 136329 tons, 7387 tons less from Friday, is far less than 23 years average inventory. 80000 tons, and low in more than a year; Over the past few weeks China needs to improve the expected boost prices, is expected to spot copper rose today.

hot financial information
1. The federal reserve continues to stay put, the fed also said New Zealand will maintain loose monetary policy. Asian stock markets rose broadly, the MSCI Asia Pacific index have risen 6 consecutive days; European stocks rallied. Inside dish black surge in early trading, but a closing closed up.

2. On Thursday, the national association of realtors ( NAR) , according to data released in August in 5. 33 million, total sales of previously owned homes fell to the second low throughout the year, 5. 45 million less than expected, and for the second consecutive monthly decline. August existing-home sales performance not as good as expected, due to high prices and stock supply co. , LTD. , has some potential buyers and back.
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