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Copper review: the Chinese housing market recovery strong vibration copper prices continue to go up

by:Deyuan      2020-12-25
Abstract: the late surge in oil prices drive global equity markets, copper prices rose $30 in late, a strong recovery in China's real estate market to support the domestic copper demand outlook, today Shanghai copper or partial strong shocks, is expected to spot copper edged up. ( )

today's copper price analysis and forecast:
a.
in the international market because of the us crude oil inventories rose less than expected last week, crude oil prices rose nearly 4% in the evening, merchandise prices get support, evening base metal is generally higher, copper closed up $30 to $4943, or 0. 61%. Recently appeared a series of encouraging signs in the Chinese economy, to boost the metal demand outlook. Open dollars jumpy today, copper edged higher $3, the latest opening price is $4976.

the London metal exchange on April 20, according to data released copper inventories increased 1500 metric tons to 146200 tons. Cancel the LME copper warehouse inventory than for 13. 94%.

2.
in the domestic market by boosting oil prices will continue rises, night Shanghai copper high and volatile, Shanghai copper open slightly higher today, 1605 contracts opened the current month of 37400 yuan, up 80 yuan, the territory of Shanghai copper 1605 contract offer 37590 rose 270 yuan; In the first quarter this year, the domestic new personal housing loan set has the highest level in history, more than 20% of new loans to the real estate market; Apparent recovery in China's real estate market, trading a second-tier cities, the copper market demand outlook for support, is expected to short-term Shanghai copper strong shocks, is expected to spot copper edged up.

hot financial information
1. On Wednesday, the national association of realtors ( NAR) The United States, according to data released by the annual total sales of previously owned homes in March 5. 33 million, expected to exceed 5. 28 million, rising from 5. 1%, exceed expectations rose 4% month-on-month. The total number of U. S. existing home sales in February 5. 07 million for years.

2. On Wednesday, the U. S. energy information administration, said in the week of April 17, 2. 08 million barrels of oil inventories rose slightly lower than expected, gasoline inventories, in Cushing stocks fell, refined oil inventories fell 3. 6 million barrels. The data, oil prices rose, reversed early losses into the oil prior to the release of the data up more than 1. Three dollars, and oil back above $44.
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