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Copper review: the export of Chinese copper soaring copper prices weak still

by:Deyuan      2020-12-23
Abstract: the federal reserve to raise interest rates expected promotion to support the dollar, fell 1 in late London copper disadvantaged consolidation. 04%; China's copper exports surged highlights of weak domestic demand, this is copper or pressure drop.

today's copper price analysis and forecast:
in the international market as the fed years raising interest rates expected to ascend, the us dollar has continued strong, base metal is generally under pressure, evening copper disadvantaged consolidation, closed down $50 to $4758, down to 1. 04%; Volume 19620, holdings 333891 hand cut 1330 hands. Aaron copper stocks rose again yesterday to crack down on market sentiment, the current cautious investors trade; This afternoon will publish the final part of China's commodity trade data, waiting for the new data plane direction.

the London metal exchange on August 22, according to data released copper inventories increased 18750 mt to 229375 mt. Cancel the LME copper warehouse inventory than for 24. 99%.

2. Domestic market
Shanghai copper low open today, 1609 contracts opened the current month of 37010 yuan, down 170 yuan, the territory of Shanghai copper contract offer $1609 to $37070, down 110 yuan. China's General Administration of Customs on Monday, according to data released in July China raw copper and copper exports soared to 401. By 6% to 75022 tons. In excess supply of copper exports rose sharply in China, the market demand for China's future worry, short-term upside price lack of power, is expected to days Shanghai copper vulnerable is given priority to, to maintain this spot copper fell.

hot financial information
1. The UK's largest real estate intermediary agency said that this year London house price growth will slow to 3. 1 5% next year, house prices will fall. 25%, the decline for the first time since 2009. Among them, the prime locations in central London house prices will drop 6% this year. , economists say, British voted to back the disrupted its own economy, speed up the London property market fell.

2. Industry online latest July China air-conditioning production and sales, according to data released in July 9. 31 million, industry production growth of 15. 14 19%, sales of 9. 16 million units, and growth. 27%. Among them, 5. 99 million sets of sale in domestic market, growth of 15. 76%, export growth 3. 17 million, 11. 56%. Notable is, July air conditioning (domestic shipments from positive growth for the first time since June 2015.
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