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Copper review: the federal reserve to raise interest rates expected to heat up copper confined consolidation

by:Deyuan      2020-12-25
Abstract: the U. S. employment data last week for the fed to raise interest rates expected to heat up, again good night Aaron copper with high prices fall, late drop $14, today Shanghai copper or remain under pressure, material is copper or not. ( )

today's copper price analysis and forecast:
a.
in the international market the labor department said as of May 21, the United States when the jobless claims fell more than expected, back to the cyclical lows. This suggests that the U. S. labor market continues to stabilize, improving economic conditions make the fed rate hike expectations rise again ahead of time, short-term market sentiment cautious goods, oil prices fell slightly after short-term impact $50, London copper follow the trend of crude oil, intraday high fall, late fell $14, the latest closing price of $4662, or 0. 3%.

the London metal exchange on May 26, according to data released copper inventories increased 725 tons to 155975 tons. Cancel the LME copper warehouse inventory ratio of 30. 52%.

2.
in the domestic market in Shanghai today opened higher, 1606 contracts opened the current month of 36030 yuan, up 200 yuan, 9:10 contract offer 1606, 35700 yuan in Shanghai copper fell 130 yuan; Investors worried about China's copper market seasonal consumption season ends or affect future demand, the market waiting to China manufacturing PMI data released on Wednesday, or will bring new guidance for the copper market, short-term market sentiment remained cautious, copper is expected to Shanghai consolidation pattern continues, this spot copper price is not big.

hot financial information
1. The labor department said as of May 21, the United States when the jobless claims fell more than expected, back to the cyclical lows. This suggests that the U. S. labor market after the first quarter of stumbling to continue steady, economy is picking up rising trend. When fewer jobless claims and 10000 to 26. 80000 people, 64 consecutive weeks less than 300000 people, continue to break the record for the longest since 1973.

2. The U. S. department of commerce, according to data released Thursday April U. S. durable goods orders month rate rise sharply, mainly due to the market demand for products except transportation more prosperous. Us durable goods orders in April 3 month rate initial value. Value of 0 4%, rising far better than expected. 5% and the former value of 1. 9%. However, excluding aircraft nondefense capital durable goods orders fell 0. 8%.
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