Abstract: investors cautious before the fed meeting results, but a lower dollar, evening copper situation stabilized, this year the global copper market oversupply expected inhibition of copper, now is now the copper price is limited.
today's copper price analysis and forecast: a.
in the international market the fed began a two-day meeting on Tuesday and is widely expected to keep interest rates unchanged, but some analysts say policy makers could raise interest rates to defend for the next few months, the market hope to find the clues for the U. S. interest rate outlook, so investors cautious before tomorrow morning meeting results.
Evening movements of copper is also supported by a weaker dollar, intraday swings higher, late up steady $1, the latest closing price to $4917.
the London metal exchange on July 26, according to data released copper inventories to reduce 7625 metric tons to 213725 tons.
Cancel the LME copper warehouse inventory than to 36.
in the domestic market in Shanghai today 1608 contracts opened 37710 yuan, the current month fell 30 yuan, 'Shanghai copper price contract 1608 37780 up 40 yuan.
Despite the early Chinese copper imports data boosted by strong domestic demand outlook of optimism, but copper prices sustained by doubt, by the global copper production growth, Chile and Peru copper output growth May 7.
2%, domestic copper production rose in June 9.
Excess 3%, the market expects the global copper market scale will reach 17.
The copper market fundamentals of the weak, wire and cable enterprise starts to drop, high inventory and air conditioning, the downstream demand is difficult to support copper, copper limited upside, expected short-term range consolidation, expected this spot copper co. , LTD.
hot financial information 1.
59 June new-home sales in the United States.
20000, after eight years and a half high, were better than expected 560000 households.
New home sales rose month-on-month 3 June.
5%, also better than expected.
New home sales prices median rose 6.
1% to 30.
The real estate market has been into the U. S. economy's bright spots.
It shows that back in the UK under the impact of the storm, the U. S. economy still robust performance.
Influenced by gasoline inventories, WTI crude oil prices fell again, fell more than 1%, close to $42 a barrel, refresh for 3 months, the lowest since June highs has fallen to 17%.
Although now is the peak summer driving, EIA data show, gasoline inventories is greater than the average range of high.