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Copper review: poor prospects for copper prices upward Chinese demand

by:Deyuan      2020-12-23
Abstract: LME closed yesterday, Shanghai copper thinly traded late disadvantaged consolidation, this correction over copper low open by 22 $4665 fall, concern about China's slowdown in demand continued, copper uplink, short term Shanghai today are small copper fell. ( )

today's copper price analysis and forecast:
a. International market
the UK financial market for comes at a time when the spring bank holiday on Monday, overnight LME copper co. Shutdown today copper low open, 8:20 copper latest offer for $4669 down to $18.

London metal exchange ( LME) 30 because comes at a time when the spring bank holiday, temporarily no inventory data.

2.
in the domestic market opened today in Shanghai were mixed, 1606 contracts opened 35700 yuan, the current month, day at Shanghai copper contract price 35690 yuan fell 10 1606 yuan; Today Shanghai copper opened lower, the fed will raise interest rates expected in the near future the Fried hot, market risk aversion rising, poor prospects for China's copper market demand, poor short-term market positive, Shanghai copper disadvantaged consolidation is still the big probability, expected to spot copper fell today.

hot financial information
1. On Monday, the committee votes in 2016 games, st. Louis fed President bullard, according to the global market seems to have been ready for the fed's summer may raise interest rates, if the fed to raise interest rates in summer, are not expected to have a significant impact on the market. He also said that in the first quarter GDP growth on encouraging, rebound in the second quarter GDP growth is likely to achieve. But he of the fed should be in June or July to raise interest rates.

2. According to Monday ( On May 30th) Survey, consumer optimism that inflation expectations have increased, so the 19 euro countries economic confidence up. The economic climate index by the European commission for a month, may achieve the four months of 104. April 7, up from 104. 0. Consumers the eurozone economy, jobs and savings for the future expressed more confidence. Industry manager also sounds very optimistic, especially orders growth. In the eurozone countries, confidence in France increased, most German less.
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