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Copper review: Chinese demand prospects after copper in the positive direction

by:Deyuan      2020-12-23
Abstract: the poor data to weaken the expected, the federal reserve to raise interest rates last week 3 copper. 15% of the weekly gain, China's property market data and factory activity recovery support copper demand outlook, expected this copper rose now.

today's copper price analysis and forecast:
a.
in the international market last week coincides with the Mid-Autumn festival holiday, the domestic market liquidity in the market decline, but after U. S. retail sales figures released by the poor poor weaken the expectations of the fed to raise interest rates this week, the Mid-Autumn festival in the week, copper has posted 3. 15% of the weekly gains and the latest closing price quote at $4777; The latest volume 2459, holdings 333433 hand cut 1380 hands.

the London metal exchange on September 16, according to data released copper inventories to reduce 225 mt to 349000 mt. Cancel the LME copper warehouse inventory ratio of 15. 82%.

2.
in the domestic market in Shanghai today opened higher, 1609 contracts opened the current month of 36950 yuan, up 290 yuan, 'Shanghai copper 1609 contract price of 36970 yuan, up 310 yuan. End of Anglo American's copper strike Chile and Peru copper production in July to continue growth is aggravating the global copper market oversupply pressures; Stabilised but China data support of copper, China's housing data is encouraging, factory activity showed signs of recovery, to enhance the copper market demand in the third quarter smooth recovery expectations. Shanghai copper situation steadied after opening today, is expected to spot copper rose today.

hot financial information
1. America for China's commodity imports and imports in the first half of the year since all showed a trend of decline, especially in July. As other imported large, European imports to China also showed a trend of decline. In addition, the United States and Europe over the import of emerging markets also is not optimistic. Analysis, which not only indicates the difficulties of the United States more than expected, it also means the trend of global trade to the service industry transfer to emerging markets.

2. According to Friday ( On September 16) A government report released, said the United States after 8 Chinese rose the consumer price index ( CPI) Monthly rate is better than expected, suggesting that inflation kept in good condition. Core CPI year-on-year growth is once again reached the highest since 2009, and for 10 months in a row above the fed just below the 2% inflation target, probability of years by the federal reserve raising interest rates to rise.
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