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Copper review: crude oil jumped to promote the copper market situation stabilized

by:Deyuan      2020-12-25
Abstract: the U. S. oil inventories and production double driving oil prices rose sharply, London copper concussion higher closed up $17, the copper market supply abundant, while the downstream demand, Shanghai copper rose underpowered, copper material today now stabilized. ( )

today's copper price analysis and forecast:
a.
in the international market because of U. S. crude oil inventories and production fell, night beauty oil surged more than 4% recorded its biggest one-day gain since early April, market fears, open London copper edged higher to $827, $4848 high and low of $4781, the late closed at $4841, up $17, up to 0. 35%, 325989 holdings of 946 hands, volume 15709 hands;

the London metal exchange on June 29, according to data released copper inventories increased 1250 metric tons to 194200 tons. Cancel the LME copper warehouse inventory than for 28. 26%.

2.
in the domestic market opened today in Shanghai and now, 1607 contracts opened the current month of 37150 yuan, up to 40 yuan, 9:10 contract offer 1607, 37250 yuan in Shanghai copper rose 140 yuan; Britain withdrew the enhanced global monetary policy is expected, and have the financial properties of copper or get support, but at present the copper market supply abundant, and downstream consumption off-season under demand is insufficient, short-term copper prices rose co. , LTD. , is expected to spot copper edged up still today.

hot financial information
1. 27 eu leaders say Britain must decide refund the negotiations point, want Britain withdrew the talks to start as soon as possible, and to seek the orderly withdrawal from the eu. Before the UK quoted terms article 50 of the Lisbon agreement does not make any negotiations. Yesterday, the European parliament passed a resolution, urging Britain immediately start to take off the mechanism.

2. , according to data from the EIA on June 24th week U. S. crude oil inventories fell by 405. 30000 barrels, significantly more than expected and the former values, crude oil inventories have fallen for 6 weeks; Refined oil inventories and in Cushing stocks fell more than expected, but gasoline inventories. By pushing oil prices rise, U. S. oil rose more than 4%, to end at 49. 88 dollars a barrel; Oil at present website $51, up nearly 4%.
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