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Copper review: golden nine silver ten arrival copper prices stabilised at pick up

by:Deyuan      2020-12-23
Abstract: investors buy on dips supported copper, London copper edged up closed up $9; Golden nine silver ten coming, on the future of the domestic demand for copper market optimism or support prices, this spot copper is expected to be small.

today's copper price analysis and forecast:
in the international market after the copper prices fell for investors on the dips, evening copper boosted the strong shock, closed up $9, the latest closing price at $4618. Volume 27349, 337126 holdings of an increase of 3184 hands. August & other; Small non-farm & throughout; Better than expected in the market, non-agricultural data well, concerns about the federal reserve to raise interest rates remain, copper short-term or maintain volatile, waiting for the guidance of the policy.

the London metal exchange on August 31, according to data released copper inventories increased 10300 mt to 293525 mt. Cancel the LME copper warehouse inventory than for 13. 47%.

in the domestic market in Shanghai today 1609 contracts opened 36300 yuan, the current month 30 yuan, 'Shanghai copper 1609 contract price of 36360 yuan, up 90 yuan. Inventories rise continuously on copper, in August, London copper stocks soared nearly 40%, copper futures fell 6. 32%; The domestic spot copper also recorded a nearly 4% decline in August; The world's biggest copper miner Codelco's Chuquicamata copper mine workers may strike. Season begins in September, in the domestic market demand for copper market prospects of optimism or support prices, this spot copper is expected to be small.

hot financial information
1. The euro zone's August CPI compared to the initial value 0. 0 2%, less than expected. Before 3%, equal value; Core CPI in August compared with the initial value of 0. 8%, less than 0. 9% of the expected and the former value. Inflation was less than expected, it will give the European central bank added pressure. Analysts say the future of easing will only more and more long.

2. The us ADP employment increase on August 17. 70000, is expected to increase 17. Before 50000, value increased from 17. Revised to increase the 19th 90000. 40000. Moody's chief economist Mark Zandi said: & other; The new employment is still strong. Most of the industry, the big employment in small and medium-sized companies are growing steadily. The us economy will soon achieve full employment. ”
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