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Copper review: international stocks rising copper demand outlook is uncertain

by:Deyuan      2020-12-25
Abstract: by less than expected U. S. new home sales in March, basic metal moves cautiously overnight, copper low consolidation, late fell 0. Copper 81%, Shanghai night also poor performance, this is copper or dipped. ( )

today's copper price analysis and forecast:
a.
in the international market on Monday, the U. S. department of commerce, census figures show us new home sales lower than expected in March, the market sentiment drag on, overnight international metal is generally under pressure, low consolidation between copper plate, late fell 0. 81%, to $4990 a tonne, from the day before in a month highs; Focus on the fed meeting results this week.

the London metal exchange on April 25, according to data released copper inventories increased 4600 metric tons to 152400 tons. Cancel the LME copper warehouse inventory ratio is 18. 14%. Copper stocks have risen for four consecutive days, high copper inventories are now a nearly five weeks.

2. Domestic market
Shanghai copper low open today, 1605 contracts opened the current month of 38020 yuan, down 110 yuan, the territory of Shanghai copper 1605 contract offer 37810 fell 320 yuan; Evening by crude oil fell, bulk metal market trend is weak, the collective movements but the weak dollar limits the copper prices fall further, night Shanghai copper weak consolidation is given priority to; Recent copper inventories rise to the market to the global copper market cautious consumer demand, today Shanghai copper shock weak market, spot copper fell slightly.

hot financial information
1. FOMC4 month for resolution approaches, speculators bearish dollar sentiment has its strongest since July 2014. As the market for the fed to raise interest rates expected abate, speculators against the dollar, strong for two years began waiting game. According to the commodity futures trading commission (Michael bloomberg CFTC) Data, according to hedge fund net (for the first time in two years 净空头) Positions.

2. Global markets began to tense week, the price fell, corporate earnings hit, investors at the same time focus on the fed and the bank of Japan meeting will be held this week. On Monday, the s&p fell 0. 18%, the dow closed down 0. 15%, fell 18000 points, the nasdaq closed down 0. 21%. The ftse pan-european blue-chip index closed down 300 0. 65%.
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