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Copper review: crude oil jumped to improve market sentiment copper prices higher

by:Deyuan      2020-12-23
Abstract: Russia will combine to crude oil production driven oil station last year highs, overnight commodity prices a big boost, copper closed up 1. 13%, domestic investors to return to the market, today Shanghai copper or higher, with copper material is rising.

a. Today copper analysis:
Mr Putin said Russia is ready to frozen even lower oil production, the OPEC oil producers such as eventually hopes to cut production, oil prices hit a year high, late night get a lift commodity prices, the international metal mostly higher, with copper rose high, late at $4844, up $54, up to 1. 13%, 13155 hand cut 350 hands, holdings 323924 hand cut 322 hands.

the London metal exchange on October 10, according to data released copper inventories to reduce 4625 mt to 350675 mt. Cancel the LME copper warehouse inventory than of 20. 55%.

2. Domestic market after a long holiday Chinese investors to return to the market,
evening in Shanghai, the current contract closed up 1 month. 36%; Shanghai copper rose today, the current month 1610 contracts opened 37710 yuan, up 170 yuan, 'Shanghai copper 1610 contract price of 38030 yuan, up 490 yuan. Crude oil jumped to improve the commodity market sentiment, Shanghai copper or continuation of a strong today, is expected to spot copper prices to rise.

hot financial information
1. Market expectations for the fed to raise interest rates in December is heating up, but Chicago fed President Evans said December rates can be a suitable time and but also failed to see the end of the urgency of raising interest rates. The Labour market expansion and salary rose slightly, slightly signals are good.

2. Russian President vladimir putin said that Russia is ready to freeze even lower oil production. Frozen to produce even cut, he said, is the right decision. Mr Putin said Russia to join the decision of the crude oil leak; Hope can OPEC agreed to limit production in November. High oil prices surged to a year.
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