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Copper review: the oil market rallied his popularity copper prices rebound

by:Deyuan      2020-12-23
Abstract: OPEC limit production agreement soaring oil prices boost the fund price, after London copper closed up 0. 69%; First rebound in demand, the businessman bullish sentiment partial thick, strong today Shanghai copper movements, materials from stock to go up.

today's copper price analysis and forecast:
a. The organization of petroleum exporting countries (the international market OPEC) Their agreement on Wednesday, agreed to production from the current level of about 33. 24 million barrels to 32. 5 million barrels, news to stimulate oil prices soaring, metal prices get a boost in the evening, evening copper high and volatile, and closed up $33, latest closing price quote $4830, or 0. 69%; Volume 11188 hand cut 4074 hands, holdings 328717 hand cut 246 hands.

the London metal exchange on September 28, according to data released copper inventories to reduce 2400 mt to 369075 mt. Cancel the LME copper warehouse inventory than of 20. 42%.

2. Domestic market
1610 contracts opened today Shanghai copper current month 37530 yuan, up 90 yuan, Shanghai copper ruler 1610 contract price of 37850 yuan, up 410 yuan. Near the end of the month and National Day holidays, refinery shipments fell, and the first demand picks up, makes traders bullish strong, short-term price of copper will receive support, is expected to first spot copper stabilization is given priority to; Today Shanghai copper has strong, material physical copper prices.

hot financial information
1. OPEC limit production agreement for the first time since 2008, and agreed to keep output targets set in 3250 - 33 million barrels a day interval; Will set up a technical committee, the implementation mechanism of distributed; In November this year decided to cut the length. After news broke OPEC agreed to leak, news refresh, soared nearly 6%, oil prices has now topped $49 a barrel.

2. On Wednesday, the international monetary fund ( 国际货币基金组织(IMF) Managing director Christine lagarde said the developed economies should adopt a more powerful pro-growth policies, maintain loose monetary policy, to boost a fragile economy. Lagarde believes that impede trade policy, it is not appropriate, is economic ills. Lagarde said, China's economy than many countries to do better.
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