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Copper review: China's copper imports fell in April the copper market

by:Deyuan      2020-12-25
Abstract: the decline in crude oil on copper prices, market sentiment, London copper bearing small drop $6, China's copper imports fell in April showed slowing domestic demand for copper, copper in Shanghai or consolidate, material is copper co. , LTD. ( )

today's copper price analysis and forecast:
a. International market
Canada recover oil production outlook for global excess supply concerns, beauty oil fell for a fourth consecutive trading day, evening the copper market sentiment, copper volatile, late fell $6, the latest closing price of $4565, or 0. 13%.

the London metal exchange on May 23, according to data released copper inventories to reduce 725 tons to 155000 tons. Cancel the LME copper warehouse inventory than 19. 94%.

in the domestic market in Shanghai today 1606 contracts opened 35170 yuan, the current month rose 60 yuan, 9:10 contract offer 1606, 35200 yuan in Shanghai copper rose 90 yuan; According to the data published on Monday by the General Administration of Customs, China's copper imports in April of 341677 tons, add 3 from the same period a year earlier. 65%, but compared with the imported 570000 tons of fell 40% in March. Copper imports fell shows slowing domestic demand for copper, coupled with the peripheral market long-short interweave, copper or limited gains in the short term, is expected in Shanghai will remain calm, is expected to spot copper price is today.

hot financial information
1. Britain withdrew the referendum will be held on June 23, and currently supports the ratio is closer to Europe and against, the market is more worrying. The business secretary said today, such as Europe, the British economy will decline in two years' 3. The most worrying is 6%, more than 500000 people lose their jobs. Jpmorgan, Europe is likely to back the bank of England cut interest rates to zero. On Monday, sterling implied volatility climbed 11% a month, the highest for 2 months.

2. The euro zone composite purchasing managers' index may ( PMI) The initial value of 52. 9, less than 53. 2, a new low in 16 months. The euro zone's manufacturing PMI may initial 51. 5, a new low for 3 months. The euro zone May 53 services PMI initial value. 1. The financial information company, chief economist at Markit Chris Williamson points out, the euro zone may PMI data disappointing, the euro zone's second quarter GDP is expected to slow to 0. 3%.
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