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Copper review: $lows hit commodity price of copper dropped slightly

by:Deyuan      2020-12-23
Abstract: evening a stronger dollar and oil prices fell for a second day drag on commodity prices, London copper fell 2. 54%, Chinese and European data renewed weak global growth concerns, spot copper or down today. ( )

today's copper price analysis and forecast:
a. International market
Atlanta fed President Dennis Lockhart said on Tuesday that the market may be underestimated the probability of action in June, June meeting still depends on the data. After analysis of PIMCO said if U. S. economic output and inflation data improved further, the fed's actions may let the market unexpectedly, trigger a financial market turmoil, evening the dollar index according to recover from a crackdown on copper, London copper low open low go late closed at $4908, down $128, or 2. 54%.

the London metal exchange, according to data released on May 3, copper inventories increased 5175 metric tons to 154675 tons. Cancel the LME copper warehouse inventory than 23. 50%.

2. Domestic market
1605 contracts opened today Shanghai copper current month 37700 yuan, up 230 yuan, 9:10 contract offer 1605, 37200 yuan in Shanghai copper fell 270 yuan; Expected U. S. crude oil inventories hit a record high, oil prices fell for a second day on commodity market sentiment, coupled with the recent China and the United States and European manufacturing data are weak market worries about slowing global growth renewed, expected today Shanghai copper low volatility, material physical copper fell slightly.

hot financial information
1. According to Tuesday ( On May 3) According to a report, the commission again downgraded the eurozone inflation expectations, and warned that the euro zone's economic growth will be lower than expected, while the euro zone's largest economies cut debt and modernize the Labour market. The European commission to Spain in 2016 GDP growth forecast from expected February 2. 8% down to 2. 6%, Italy in 2016 GDP growth forecast from February 1. 4% cut to 1. 1%. The committee is expected to French GDP growth in 2016 to 1. 1 in 2017 and 3% growth. 7%.

2. On Tuesday, On May 3) According to the survey, released April UK manufacturing output unexpectedly fell, fell to a three-year low, that before a proposed referendum on whether the British withdrawal from the eu, the UK economy is slowing. In April, according to the survey the Markit/CIPS manufacturing purchasing managers' index ( PMI) Fell to 49. 2, for the first time since March 2013 below the break-even mark of 50. In march the index of 50. 7.
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