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Copper review: China's trade data for poor copper or fall further

by:Deyuan      2020-12-25
Abstract: Aaron copper stocks jumped in a row, London copper under pressure in 2. Low of 51% to nearly four months, expectations of increased supply and demand outlook on copper, copper in Shanghai or have dropped, material is copper with fall. ( )

today's copper price analysis and forecast:
in the international market on Tuesday, the London metal exchange copper inventories 21825 metric tons, gen since February 2015, biggest one-day increment, copper stocks rose more than 12 in two days. 6%, inventory continuous jump to market expectations of global demand outlook renewed, London copper confined fell sharply, late fell 2. 51%, to $4559, hit a low of nearly four months.

the London metal exchange on June 7, according to data released copper inventories 21825 mt to 196225 mt. Cancel the LME copper warehouse inventory ratio of 25. 44%.

in the domestic market in Shanghai today all low, the current month 1606 contracts opened 35510 yuan, down 480 yuan, 9:10 contract offer 1606, 35430 yuan in Shanghai copper fell 560 yuan; Attention on China import and export data may today, because of China's April industrial production and so on many data was less than expected, so the data in May soon arrives, traders attitude very cautious; Today's commodities under pressure, Shanghai copper or invigorating the fall, spot copper is expected to fall.

hot financial information
1. The euro zone in the first quarter GDP value is 0. 12 months to 6%, a record; Year-on-year growth from 1. 5% of 1. 7%, slightly better than expected. This growth is mainly affected by household spending and private investment push of the plates move. Strong performance in the first quarter, is likely to enable the European central bank to further promote the easing will decrease, while the driving force of economic growth can be sustained remains in doubt.

2. Because of U. S. oil production to the end of next year is expected to be started to grow steadily, combined with the overseas oil supply disruptions, the U. S. department of energy information agency ( EIA) Hike this year and expected price of crude oil, more than $51 a barrel next year. Because of the influence of the value of the dollar and the international supply interference, the United States on Tuesday WTI prices above $50 a barrel for the first time since July last year.
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