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Copper review: Chinese copper imports down cause demand concerns copper prices remain under pressure

by:Deyuan      2020-12-25
Abstract: the dollar rebounded on copper, copper tumbled 4 last week. 92%, giving up most of the increase since April, China's copper imports in April showed insufficient domestic demand, is expected today is copper fell. ( )

today's copper price analysis and forecast:
the international market, dragged down by the dollar Aaron copper fell sharply last week 4. Most of the gains that the 92%, giving up since April; April new U. S. non-farm a new low seven months, but the wage growth, investors in U. S. non-farm payrolls data interpretation is not pessimistic expectations, and jobs growth slowdown could dampen expectations for higher interest rates in the United States, every slight rebound Zhou Lun copper closed up $17, the latest closing price of $4788.

the London metal exchange on May 6, according to data released copper inventories increased 2300 metric tons to 159025 tons. Cancel the LME copper warehouse inventory ratio of 26. 74%.

2. Domestic market
Shanghai copper low open today, 1605 contracts opened 36430 yuan, the current month fell 40 yuan, 9:10 contract offer 1605, 36350 yuan in Shanghai copper fell 120 yuan; China General Administration of Customs, according to data released on Sunday, April unwrought copper and copper imports of 450000 tons, year-on-year increase in 4. But 7%, down 21% month-on-month. China's copper imports in April or display in the domestic market demand, Shanghai copper low consolidation today, now is now copper fell slightly.

hot financial information
1. April 160000 non-farm were created in the United States, for 7 months, the lowest since 200000 less than expected; April unemployment rate is 5%, 4 worse than expected. Before the value 9%, 5%; On April 2. Compared to the average hourly wage 2 5%, slightly higher than expected. 4%, the former value of 2. 3%. Economists argue that the Labour market is still reasonable health, end of the year to the next job growth is expected to weaken.

2. Following the march export growth to the first nine months after positive growth, China's exports of April has once again into negative, importing accidentally fell, the trade surplus increased to 455. $600 million, far more than expected. Macro think of the people's livelihood, the slowdown is a base effect receded, 2 it is due to the manufacturing recovery in the developed countries to stop. Insufficient domestic early congenital kinetic energy recovery, the recessionary surplus are making a comeback.
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