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Copper review: the oil market surge in copper prices strong finishing

by:Deyuan      2020-12-25
Abstract: the oil market rebounded sharply to offset the impact of the weakness of the Chinese data, London copper rose $33, in April the latest domestic real estate data support the copper market demand forecast, today in Shanghai is expected to rise. ( )

today's copper price analysis and forecast:
in the international market, according to Goldman sachs influenced by Nigeria's oil pipeline explosion, rebalancing has begun to crude oil market, the market is likely to fall in with the demand of the situation in May. Late so Goldman sachs raised its oil price forecast this year, American oil rose more than 3%, the highest close since November 3, 2015. Overnight commodity prices were driven, copper at $4655, up $33, up to 0. 7%.

the London metal exchange on May 16, according to data released copper inventories increased 2350 tons to 159025 tons. Cancel the LME copper warehouse inventory than for 21. 58%.

in the domestic market in Shanghai today opened higher, 1606 contracts opened the current month of 35530 yuan, up 120 yuan, 'Shanghai copper 1606 contract price 35670 yuan rise 260 yuan; China's industrial and investment growth both in April worse than expected, especially private investment growth fell back alarming. But real estate prices rise, further accelerate growth, investment in fixed assets investment means investment in infrastructure and real estate, in the short term economic will run smoothly, in the second quarter of big probability can remain at 6. About 7%. The copper market demand outlook or find some support, days after the Shanghai copper strong shocks, is expected to spot copper with rose slightly.

hot financial information
1. Goldman sachs raised expectations of oil prices in 2016, is expected to reach $45 a barrel of oil in the second quarter of this year, the second half of this year prices will reach $50 a barrel. But at the same time, the bank will be 2017 before the expected forecast of 57 a barrel oil prices. Cut to 52 $5. Five dollars.

2. The national association of home builders ( 国家住宅建筑商协会) On Monday, On May 16) According to the data published, the United States in May the NAHB housing market index and flat last month, but lower than expected. In may, according to the American NAHB housing price index for 58, 58, 4 month for analyst forecasts of 59. Reading above 50 indicates that the number of builders on residential sales prospects than pessimistic builders. The index since June 2014 has been above 50.
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