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Copper review: fundamentals of mixed copper prices remain under pressure

by:Deyuan      2020-12-23
Abstract: a weaker dollar support, but the market sentiment before the referendum, Zhou Lun copper edged up, LME copper stocks will rise sharply expected worries market, poor demand outlook, this is copper or co. , LTD. ( )

today's copper price analysis and forecast:
a.
in the international market on Friday, a weaker dollar helped copper rebound, but back in the UK market sentiment remains cautious before the referendum, zhou acquisition of high copper rushed back, eventually closed up $6, the latest closing price to $4550. The referendum (from June 23, On Thursday, London time to start in the morning, the end result should be in local time ( On June 24th) Published (7 a. m. Around 2 PM (Beijing time) 。

the London metal exchange on June 17, according to data released copper inventories to reduce 3100 metric tons to 195925 tons. Cancel the LME copper warehouse inventory than of 20. 39%.

2.
in the domestic market in Shanghai today open slightly higher, the current month 1607 contracts opened 35530 yuan, up 110 yuan, 'Shanghai copper 1607 contract price 35500 yuan rise 80 yuan; The personage inside course of study says, because the copper is transferred out from China, the London metal exchange ( LME) Asia registered warehouse stocks of copper or rose about 50% in the next month, inventory rising expectations or suppression of copper prices in the short term, short-term market sentiment, is expected to copper prices space is limited, Shanghai copper consolidate today, is expected to spot copper stabilization is given priority to.

hot financial information
1. The U. S. department of commerce, according to a new report on May housing starts rose slightly in 0. By 3% to 116. 40000, only slightly better than expected. May permits from 0. By 7% to 113. 80000, slightly less than expected. Data slightly depressed, foreign media said that this means that residential real estate industry in the United States in the second quarter of this year's economic growth will not have the too big contribution.

2. Pro-eu British mp Jo Cox was killed on Thursday, after the polls has changed. Survation Saturday's poll, 45% of respondents support for Europe, 42% support the back. And the results compared with its poll on reversed. Another according to a YouGov poll for the proportion to 1% of the narrow lead. But these polls with USA today poll results reported by differences.
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