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Copper review: the market overall poor copper fell to a five-week low

by:Deyuan      2020-12-23
Abstract: the United States pushing the expectations of higher interest rates in December, every Zhou Lun copper fell $39 in the five-week low, Europe's biggest cut cathode copper refinery processing highlights the overall market conditions, this spot copper or small down.

a. Today copper analysis:
U. S. retail sales rebound and producer price index is strong that the fed will raise interest rates expected to boom in December, the dollar rebounded on copper, insulation Zhou Lun copper retreated, closed at nearly five weeks lows, the latest closing price $4676, down $39, drop to zero. 84%; 16055 hand cut 12980 hands, holdings of 327869 an increase of 5374 hands.

the London metal exchange on October 14, according to data released copper inventories increased 2925 mt to 349075 mt. Cancel the LME copper warehouse inventory than 27. 86%.

in the domestic market on Friday night night Shanghai copper plate as weak performance, current month contract closed at 37310 yuan, down 170 yuan, the drop to zero. 45%, 1610 contracts opened today Shanghai copper current month 37800 yuan, up 320 yuan, the territory of Shanghai copper contract offer $1610 to $37300, down 180 yuan. Next year, Europe's largest refinery Germany Aurubis said on Friday to the customer cathode copper processing fee charged by a decline in 6. 5%, highlights the global oversupply and weak demand for copper stress. Shanghai copper weak consolidation today, is expected to spot copper fell.

hot financial information
1. On September 30 overweight on the property market, Beijing real estate market began to cool after National Day. October 1 solstice 15, Beijing new commodity housing net number sign, fell 45%, fell 42% year on year. Even eliminating the influence of National Day holidays, Beijing housing market data still fell, market cooling trend is obvious.

2. Federal reserve chairman said on Friday that should consider to temporarily maintain & other; High pressure throughout the economy &; Demand, in order to maintain the steady growth and tighten the Labour market, help repair the effects of slow economic recovery, but she also pointed out that maintain a loose stance too long will do more harm than good. “ The federal reserve agency & throughout; Hilsenrath, according to the comments hinted that the fed over the next few months will take a very gradual increases in interest rates.
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