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Copper review: the lack of a good to recover copper shock consolidation today

by:Deyuan      2020-12-23
Abstract: affected by the crude oil highs, London copper rose only $13, China's weak economic data caused by easing expected, but the market does not have a sharp rebound in good conditions, copper material today now stabilized. ( )

today's copper price analysis and forecast:
a.
in the international market, the international energy agency warned on Tuesday, the international crude oil market this year will still be a glut of state, and said that the price of crude oil is likely to hit a $20 a barrel before rising range, near the highs of crude hit a 12-year lows again, drag on copper days lost most of the gains, London copper edged up to only 4393 yuan per ton, on a trade rose $13; The London metal exchange on January 19, according to data released copper inventories increased 2575 tons to 236125 tons. Cancel the LME copper warehouse inventory than for 11. 32%; Copper opened in 4392. Five dollars from the previous trading day unchanged.

2. Domestic market
Shanghai copper open slightly higher today, after the opening shock consolidation, 1603 contracts opened up 230 35400 yuan, main month 9:45 left Shanghai copper 03 contract offer 35180 rose 10 yuan, published yesterday in the fourth quarter GDP in China and a series of economic data poor overall performance, motivate investors to the Chinese government will further introduce stimulus measures expected, given copper support, but the market did not do not have a sharp rebound in good condition, and the IMF's latest report and cut its global growth expectations, is expected in Shanghai shock consolidation today, this is copper or stabilizing.

hot financial information
1. The national association of home builders ( 国家住宅建筑商协会) On Tuesday, On January 19) , according to the data published in January the NAHB housing price index dropped to 60, analysts' forecasts for 61, 12 menstrual revised to 60.

2. The office for national statistics ( ONS) On Tuesday, On January 19) In December, according to data released in the consumer price index ( CPI) Rose 0. 0 1%, year-on-year rise. 2%, CPI inflation rate is the highest since January 2015, partly because the ticket prices and the highest in nearly five years.

3. The European center for economic research ( ZEW) On Tuesday, On January 19) In January, according to the findings published in Germany ZEW economic sentiment index by December 16. 1 to 10. 2, but beyond survey forecasts 8. 2.
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