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Copper review: global copper supply copper support situation stabilized

by:Deyuan      2020-12-25
Abstract: the strong Chinese data for the copper, evening copper closed up $13; ICSG said global copper supply shortage, today Shanghai copper supported or maintain strong trend, the material in this spot copper edged up.

today's copper price analysis and forecast:
in the international market in the near future the Chinese data, especially the housing data strong help boost copper, evening copper opened lower after concussion uplink, late back some gains, close to 4781 dollars rose $13, increase to 0. 28%; Volume 13634, holdings 330120 hand cut 5580 hands.

the London metal exchange on September 20, according to data released copper inventories to reduce 1675 mt to 347950 mt. Cancel the LME copper warehouse inventory ratio of 15. 66%.

in the domestic market in Shanghai today open slightly higher, the current month 1610 contracts opened 37300 yuan, up 100 yuan, 'Shanghai copper 1610 contract price of 37270 yuan, up 70 yuan. The international copper study group said in its latest monthly report, the global shortage of June 8 refined copper market. 30000 tons, the first six months of this year the market shortage of a total of 30. 60000 tons; This data is expected to support prices, today Shanghai copper high stabilization, spot copper is expected to rise slightly.

hot financial information
1. The U. S. department of commerce ( 医生) On Tuesday, the United States housing starts total annualised decline in August 5. By 8% to 114. 20000, fell more than expected, the total number of housing starts in July was not revised to 121. 10000, this is because the larger scale of the country's construction activity in August for two months after the increase in general decline, but August single-family residential permit total recovered, indicates that demand for housing is still intact.

2. Japan's exports was recorded 9 August. 6% decline, was shut down for 11 months, and drop further, according to the emerging plate drag on exports, the yen's appreciation against the dollar has gained 17% from a year earlier. But if the total meter, exports increased 0. 9%, was recorded for the first time increase over the past two months, including semiconductor exports soared by 23%.
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