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Copper review: the dollar continued to fall to support today's copper prices stabilized

by:Deyuan      2020-12-23
Abstract: the us dollar has continuous drop support copper, London copper rose $34. China's rapid growth of investment in fixed assets or drive the afternoon copper demand, days after the Shanghai copper or strong, is expected to spot copper edged up.

today's copper price analysis and forecast:
a. International market
the latest federal reserve meeting minutes of July to doves, while the fed dove Dudley bullish on the U. S. economy, but still slide in the dollar, markets are betting that the fed was in no hurry to raise interest rates, the overnight rebound copper closed up $34 is back at 4800; Volume 15712, position 344110 hand cut 1011 hands.

the London metal exchange on August 18, according to data released copper inventories increased 125 mt to 213425 mt. Cancel the LME copper warehouse inventory than 29. 99%.

in the domestic market in Shanghai today slightly low, 1609 contracts opened the current month of 37410 yuan, up 240 yuan, the territory of Shanghai copper 1609 contract price of 37270 yuan, up 100 yuan. In July China's rapid growth of investment in fixed assets, although the decrease in the number of large and medium cities housing prices from rising, or narrowed somewhat, but the overall is still to maintain momentum, worries about Chinese demand, expected today Shanghai copper stabilization is given priority to, material physical copper rose slightly.

hot financial information
1. On Thursday, the fed's no. 3, according to the character and the New York fed President Dudley speech recent jobs growth is strong, the long-awaited middle-income population employment, this is the two positive signals to the healthy development of the U. S. labor market, labor market is expected to continue to improve. Earlier this week, Dudley said the United States is gradually close to raise interest rates.

2. Mongolia has announced a economic crisis, since the beginning of their currency has plunged more than 11%, heavy debt burden, economic growth has stalled. Analysis thinks, Mongolia fall into the predicament of the now, the reason is that excessive dependence on the mining industry a pillar industries: the fall in commodity prices, coupled with the Mongolia's largest exporter of weakening demand in China, the Mongolian economy so affected.
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