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Copper review: Goldman sachs look at more than $copper market pressure

by:Deyuan      2020-12-23
Abstract: Goldman sachs see more dollars on metal, London copper fell in late high rushed down $8, worries about the global economic slowdown would copper prices remain under pressure, days after the Shanghai copper or consolidation, now the copper price is not big. ( )

today's copper price analysis and forecast:
in the international market yesterday, Goldman sachs economists said the fall in the dollar has ended, and with the federal reserve's monetary policy normalization of recovery, the dollar is expected in the next two years up 15%; Goldman sachs look at more than $, base metals or remain under pressure, high London copper rushed back, late closed down $8, the latest closing price to $4678. Today's copper plate flat open.

the London metal exchange, according to data released on May 10, 1300 tons of copper inventories increased to 160900 tons. Cancel the LME copper warehouse inventory ratio of 26. 66%.

in the domestic market in Shanghai today open slightly higher, the current month 1605 contracts opened 35860 yuan, up 70 yuan, 'Shanghai copper contract offer $1605 to $35830 up 40 yuan. Copper is widely applied in manufacturing industry, although in the first quarter since the recovery in China's real estate market, but persistent or suppressed, and cable industry are still poor, slow global growth also limits the copper upside, with the end of the spring purchasing period, in the second quarter of the copper market demand or slow gradually, the current copper price is expected to optimistic. Shanghai copper consolidation today, is expected to spot copper co. , LTD.

hot financial information
1. China's National Bureau of Statistics released Tuesday, China's CPI rose in April 2. Rose for a third straight month in 3%, flat, vegetables, and pork prices are affected by fruit and it fell to offset. After receive the Wall Street journal ( 《华尔街日报》) Investigation of 15 economists forecast for China's April CPI inflation in the value of 2. 4%. China's producer price index (ppi) for April PPI) Decline in 3. Decline of 4%, fell less than expected, March 4. 3%. PPI has been more than four years in the region of the deflation.

2. The United States energy information administration ( EIA) Monthly report that oil prices will encourage investment, so will the oil production in 2017 could expect from April forecast of 8. 04 million barrels per day to 8. 19 million barrels per day, and rise sharply this year and next year's oil price expectations.
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