Copper review: poor demand outlook international stocks soaring copper prices under pressure
Abstract: China's copper imports jumped up copper prices may rebound on Wednesday, but the rally is limited by the excess supply expected and a weakening demand outlook, copper fell nearly 1% during Dragon Boat Festival, today's analyse or fell, copper material is small.
today's copper price analysis and forecast: a.
in the international market, according to customs data released on Wednesday, China may copper imports jumped 19 year on year.
4% to 430000 tons, the news that night copper rose, but the rise in the next day from a stronger dollar and global oversupply expected, even fell after two days, copper down 0 during the Dragon Boat Festival.
94%, the latest closing price to $4516, refresh low since four months.
the London metal exchange on June 10, according to data released copper inventories to reduce 2550 metric tons to 210675 tons.
Cancel the LME copper warehouse inventory than of 20.
Domestic market Shanghai copper low open today, 1606 contracts opened the current month of 35030 yuan, down 440 yuan, 9:10 contract offer 1606, 35230 yuan in Shanghai copper fell 240 yuan;
Affected by a stronger dollar and crude oil fell, Aaron copper moves up before they fell during the Dragon Boat Festival, the uncertainty of global economic conditions improved industrial metals demand outlook in anticipation of a poor since the beginning of this June, Aaron copper stocks rise sharply, the latest inventory to 210675 tonnes, compared with the inventory of 154350 metric tons, the end of may have risen more than 38% this month;
Domestic market comes at a time when the market demand weak section, short-term rise in copper or harder, this week movements or tend to be weak.
Today Shanghai copper market weak, material physical copper fell slightly.
hot financial information 1.
China imports fell 0 in May.
4%, 19 months had better performance;
The decline in exports of 4.
1%, from April 1.
A 8% drop to expand.
Analysts, according to the comments may imports rebounded in May last year was the main reason of low base and import prices rose, while imports remain high, import data confirm the economy bottoming out rebounded more than expected.
Exports fell slightly, it shows that external demand despite the rebound, but still weak.
On Friday, the Thomson Reuters/university of Michigan report shows that the United States in June of Michigan consumer confidence index for 94.
3, slightly more than expected in 94, the five surveys of 94.
The expectations index by 84.
2, the current index by 109.
Nine rose to 111.
5 years of inflation expectations, initial value to 2.
A record low of 3%.