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Copper review: the copper market weakness in poor market demand

by:Deyuan      2020-12-23
Abstract: in the dollar index rose for six days after the fall, London copper edged up $15, market demand is weak, spread pessimism about the China's economic outlook, short-term copper market weakness, this spot copper price is not big. ( )

today's copper price analysis and forecast:
a.
in the international market well-known investment Banks, including Goldman sachs have predicted the dollar has hit bottom and will open a new bull market, evening the dollar index fell after posted six even up to 94, against a basket of currencies fell for the first time in seven days, as investors with no major U. S. economic data released today, as well as global stock markets fell opportunity to lock in profits; Overnight international metal benefit all higher, copper rose $15, the latest closing price to $4693. Today's copper plate flat open.

the London metal exchange on May 11, according to data released copper inventories increased 725 tons to 161625 tons. Cancel the LME copper warehouse inventory ratio of 26. 28%.

2. Domestic market
Shanghai copper open slightly higher today, 1605 contracts opened 35810 yuan, the current month 30 yuan, 9:10 contract offer 1605, 35730 yuan in Shanghai copper fell 50 yuan. China import and export data fell more than expected in April, highlighting weak demand at home and abroad. Although copper imports to increase from a year earlier, but the decline in March hit a record high of 21%. Enter the domestic spot copper price since may drop in a row, the current price is around 35800 yuan per ton, down this month has up to 4. 25%; Pessimism spread the market at present, the copper market weakness, today Shanghai copper continued consolidation trend, spot copper material co. , LTD.

hot financial information
1. Vice premier zhang gaoli hosting on the BBS of the organisation for economic co-operation and development said on Wednesday that China's economy faces downward pressure, but will be able to achieve this year's economic growth targets. The development of China will this year target 6. 5% - 7%. Zhang gaoli, said China will through measures to reduce the leverage in the economy, including bankruptcy, but does not implement a massive stimulus measures.

2. On Wednesday, On May 11) The organization for economic cooperation and development ( OECD) Says emerging market countries of the economic downturn is releasing abate signal, and the prospect of Brazil and Russia are improving, China's performance is steady, but the American outlook continued to deteriorate. According to the latest status, China in 98. 3. Brazil from 98. 0 to 98. 3, the Russian index from 98. 4 has risen to 98. 6. The index from 98. 9 drop to 98. 8, maintaining a steady 99 British index. 1, and still revealed signs of decline. Stable index in 99 in Germany. 7, with the previous month.
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