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Copper review: the end of the season domestic copper price pressure

by:Deyuan      2020-12-23
Abstract: investors profit-taking oil prices fell on Friday, every other Zhou Lun copper fell $25 or more than three months lows, domestic market slowdown in demand the end of the seasonal purchasing season is expected to short-term copper under pressure, this is copper or dipped. ( )

today's copper price analysis and forecast:
a.
in the international market because of the stronger dollar prompted investors to lock in profits after oil prices rose for the second week, pay attention to the oil industry and market of an unplanned production can reduce high global excess supply, oil prices fell on Friday weigh on prices, Aaron bream fell $25 to $4571, low in more than three months.

the London metal exchange on May 20, according to data released copper inventories to reduce 2875 tons to 155725 tons. Cancel the LME copper warehouse inventory than of 20. 82%.

2.
in the domestic market in Shanghai today open slightly higher, the current month 1606 contracts opened 35410 yuan, up 170, 9:10 contract offer 1606, 35040 yuan in Shanghai copper fell 200 yuan; Recent copper prices upward, abundant supply is the main reason, at present domestic copper company capacity utilization is higher, jiangxi copper may start annual overhaul, affect the output of 10000 tons, maintenance affect yield significantly less than in previous years, production of refined copper to maintain high growth, and with the end of the season, the market demand is expected to have slowed, afternoon copper prices are still under pressure, Shanghai copper consolidation today, is expected to spot small down.

hot financial information
1. The national association of realtors ( NAR) On Friday, On May 20) In April, according to data released the NAR seasonally adjusted existing-home sales month rate increase after 1. 7%, the forecast of 1. Estimated 3% to an annual rate of 5. 45 million units, 5. 4 million units. And the United States in March the NAR seasonally adjusted after 5 existing-home sales month rate confirmed for growth. 7% to an annual rate of 5. 36 million units.

2. Statistics Canada ( 加拿大统计局) On Friday, On May 20) In march, according to the data published Canadian retail sales sharply down from a record high in February, far more than expected, because of the automobile and accessories sales.
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