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Copper review: China to increase international copper prices further pressure on copper exports

by:Deyuan      2020-12-25
Abstract: the late rebound in the dollar, copper pressure in 2. 93% refresh the six-week lows, the news that China will increase copper exports market concern about the prospect of domestic demand to further fermentation, this is copper or expand losses. ( )

today's copper price analysis and forecast:
a. International market
late rebound in the dollar to base metal pressure, London copper fell $140, the latest closing price is $4635, down to 2. 93%, hit a new low since Feb. 26. Short-term poor fundamentals, crude oil remained low, copper prices upward lack of power, is expected to short-term consolidation is given priority to. Open today London copper edged higher, Beijing time at 9:10 latest offer to $4660 $25.

the London metal exchange, according to data released on April 7, copper inventories 3925 mt to 145000 mt. Cancel the LME copper warehouse inventory than 29. 74%.

2.
in the domestic market in Shanghai today all low, the current month 1604 contracts opened 36370 yuan, down 340 yuan, 9:10 contract offer 1604, 35810 yuan in Shanghai copper fell 900 yuan; Short days market, Shanghai copper or low consolidation; Because at present Chinese copper stocks near record highs, and the weak domestic demand, the market in the next few months from congress, copper exports is the release of some of the inventory to the international market, which will affect the global copper market, at the market further concern about the pace of economic growth in China.

hot financial information
1. The United States on April 2, 26 weekly jobless claims. 70000 people, continue to maintain at a record low. 3000 less than expected, lower than that of before 9000. First ', according to the analysis of the data of 300000 suggests the labor market growth slowed, and output growth slowed sharply. But obviously, today's data is one of the highlights of growth prospects.

2. On Thursday, federal reserve chairman yellen in International symposium on House, said the United States is close to full employment, economic made great progress, the us economy is moderate, there is no bubble. Ben bernanke, Mr Greenspan and Mr Volcker also attended the meeting, the four gathered for the first time in history, chairman of the federal reserve.
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