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Copper review: Chinese copper imports sentiment copper prices rise further

by:Deyuan      2020-12-23
Abstract: China's march trade figures metal prices, a strong boost London copper up 1. 19%, China's copper imports in March in encouraging market sentiment, concerns over China's economic outlook, is expected to spot copper rise further. ( )

today's copper price analysis and forecast:
a.
in the international market because of China's trade data in March is strong, lit the expectations of the country's economy is improving, overnight, averaging boost basic metals prices, London copper rose to nearly two weeks on Wednesday highest in late 1 rising closed at $4837. 19%; The sentimental recovery support, Aaron copper open slightly higher today, but then the pressure oscillation in the dollar rally, as Beijing time points LME three-month copper ruler latest offer for $4829 down $8.

the London metal exchange, according to data released on April 13, copper inventories 25 tons to 146475 tons. Cancel the LME copper warehouse inventory than for 22. 53%.

2.
in the domestic market in Shanghai today open slightly higher, the current month 1604 contracts opened 36850 yuan, up 140 yuan, Shanghai copper ruler 1604 contract offer 36780 rose 70 yuan; China exports for nine months for the first time in March compared with the confirmation, and hit a 13-month high, added support for China's economy stabilises, the General Administration of Customs on Wednesday, according to the data published march copper imports hit a record high during this period, China imports surged 30% in the first quarter, good data or support today's copper price, spot copper is expected to rise further.

hot financial information
1. China march exports substantially improved, not only for the first time in nine months, growth is also quite striking. While the decline in imports following last month reduced continues to narrow. According to the dollar, China exports surged in March 11. 5%, compared with last month, which is in 25. 4%; Imports fell 7 March. 6%, a decline in February 13. 8% margin narrowed.

2. The United States in March retail sales unexpectedly fell 0. 3%, triggering concerns about consumer spending is lost momentum. March retail sales performance unexpectedly, mainly in auto sales hit a biggest monthly decline. Clothing store, Internet companies and the performance of the restaurant sales also dragged down the overall data.
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