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Copper review: China production not increasing copper limited gains

by:Deyuan      2020-12-23
Abstract: the British left the expected increase, the dollar fell 2 London copper leave high to go high vibration, late closed up 1. 41%, domestic copper output continues to grow, the copper market oversupply concerns remained, now is copper edged up now. ( )

today's copper price analysis and forecast:
a. International market
although Britain withdrew the referendum on the final result is still not released, but the market's expectations of the British left the camp victory, overnight dollar continued drop, basic metals prices get a boost, evening leave high to go high copper, rose $67 to $4775 in late, up to 1. 41%.

the London metal exchange, according to data released on June 23, copper inventories increased 3675 metric tons to 194375 tons. Cancel the LME copper warehouse inventory than for 28. 10%.

2.
in the domestic market in Shanghai today opened higher, 1607 contracts opened the current month of 36550 yuan, up 380 yuan, 'Shanghai copper 1607 contract price 36330 yuan rise 160 yuan; The National Bureau of Statistics latest data show, 680000 tons of refined copper production in our country, May 6 year-on-year growth. 6%,1本; Refined copper production in 334 in May. 60000 tons, year-on-year growth of 9. 7%. Despite the end of last year the domestic copper company has 350000 tons of production plan in 2016, but from the point of data, refined copper output this year is still maintained high growth. Lack of downstream consumption to promote the market at present, the above height or physical copper co. , LTD. , is expected to today's spot copper rose slightly.

hot financial information
1. On Thursday, the U. S. department of commerce bureau ( 美国人口普查局) According to the data published, the United States may new home sales 55 years. 560000 10000, lower than expected. Housing sales fell 6% in May, is expected to decline in 9. 5%.

2. The referendum ended in Beijing time Friday at 5 PM. YouGov poll found that 52% of people support the British left Europe, 48% of people request refund. YouGov the poll is after the referendum, the market for the first data.
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