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Copper review: strike message support copper prices

by:Deyuan      2020-12-25
Abstract: China's inflation data down to market expectations of China will further stimulate the economy, London copper rose 1. 14%; Chilean copper supported copper strike news, today's spot copper is expected to rise.

today's copper price analysis and forecast:
a. International market China's inflation figures released by the
Sunday is weak, year-on-year fall, causing the market to China's central bank may cut interest rates to boost economic growth expectations, overnight copper prices to get a boost, copper closed up 1. 14% to $4743, holdings of 338504 hand cut 166 hand, volume of 12981.

the London metal exchange, according to data released on July 11, copper inventories to reduce 625 metric tons to 222600 tons. Cancel the LME copper warehouse inventory ratio of 26. 86%.

in the domestic market in Shanghai today open slightly higher, the current month 1607 contracts opened 37150 yuan, up 330 yuan, 'Shanghai copper 1607 contract price 37040 yuan rise 220 yuan; After the international copper prices tumbled, the world's largest copper exporter & ndash; — Chile's copper miner have cut costs, and announced production cuts and layoffs. Anglo American subsidiary Chile ElSoldado project in the past three years has been losing money, so the aggressive cost-cutting plan. Failed to agree for salary negotiations, Chile, El Soldado copper mine workers go on strike Friday, messages or copper prices to obtain a bit of support, is expected to rise in spot copper today.

hot financial information
1. On Monday, the federal reserve released employment market condition index ( LMCI) In June, according to the United States LMCI for - 1. 9, less than expected for - 0, 5 month 4. 8. This is LMCI negative sixth consecutive month. The fed has said the index than non-farm better reflect the real situation of the Labour market. The United States has increased 28 June non-farm payrolls. 70000, record eight months.

2. On Monday, the British prime minister David Cameron says he will resign on Wednesday, on the same day will usher in a new British prime minister Theresa May. Earlier Monday, May rival withdrew from northamptonshire. This is the first time more than 20 years, the British after Margaret thatcher in a female prime minister again.
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