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Copper review: night price spike back copper confined extended losses

by:Deyuan      2020-12-25
Abstract: night price spike, copper fell 2. 12% to $4687 and nearly a month low, high copper warehouse inventory to the market demand at home and abroad worry renewed, spot copper prices or down today. ( )

today's copper price analysis and forecast:
a.
in the international market because of Canada's forest fire fire slowed and add 1. 4 million barrels of crude oil inventories in Cushing, oil prices pared gains earlier on Monday, have dropped to below $44 a barrel, copper confined low open low walk in the evening, late closed down 2. 12%, to $4687 a tonne, a new low since April 12 s. The London metal exchange and Shanghai futures exchange control warehouse stocks of copper high, the copper prices under pressure. Copper open to $4685 in early trading today, down $2.

the London metal exchange on May 9, according to data released copper inventories increased 575 tons to 159600 tons. Cancel the LME copper warehouse inventory ratio of 26. 49%.

2. Domestic market
Shanghai copper low open today, 1605 contracts opened the current month of 35840 yuan, down 190 yuan, 9:10 contract offer 1605, 35680 yuan in Shanghai copper fell 350 yuan; Bad news, today's market sentiment, Shanghai copper or weak direction; Weak Chinese trade data, China's copper imports fell from a record high in April, the suppression of the copper market recently, now is the spot copper retreated.

hot financial information
1. The State Council on stabilized to the good several opinions on promoting foreign trade, points out that will support foreign trade enterprise financing, improve the export tax rebate adjustment policy, implement positive import policy. Under the precondition of risk control, to the foreign trade enterprise acquisitions overseas brands, marketing system, such as increase credit support, and strengthen the protection of intellectual property rights of foreign trade. Import and export data yesterday showed that China's foreign trade in April to cool down, exports less than expected, imports fell accidentally.

2. The federal reserve on Monday ( May 9) In April the United States, according to data released by the labor market conditions index ( LMCI) For - 0. 9, expected value of - 1, after revised down the former value is 2. 1, recorded a fourth consecutive month of decline, for the first time since June 2009. LMCI recorded negative growth increased again below consensus of non-agricultural report to be released on Friday of disappointment.
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