Copper review: the poor manufacturing data both weaker prices
Abstract: a weaker oil continuous weigh on commodity market sentiment, the overnight charge copper fell nearly 1%, night out of the U. S. manufacturing activity is slowing down the copper market demand outlook, Shanghai copper confined weak consolidation today, copper or down now.
today's copper price analysis and forecast: a.
in the international market growing worries about the global excess supply of crude oil, oil prices have fallen sharply, hit a new low since the middle of April, commodity market sentiment under pressure, evening copper swings back closed down 0.
98%, the latest closing price to $4872.
The global economic slowdown for the fed to raise interest rates expected lower again, markets expect the fed to raise interest rates before the end of the chance to about 35%, more than 50% lower than last week.
Today's dollars or maintain weak shocks, is expected to copper leveled off.
the London metal exchange, according to data released on August 1, copper inventories increased 625 metric tons to 210075 tons.
Cancel the LME copper warehouse inventory ratio of 30.
Domestic market 1608 contracts opened today Shanghai copper current month 37950 yuan, up 80 yuan, the territory of Shanghai copper 1608 contract offer 37690 fell 180 yuan;
Following Friday's U. S. second-quarter gross domestic product (GDP) after weak data, yesterday the U. S. manufacturing activity contracted again in July;
U. S. manufacturing activity is slowing and Chinese manufacturing data showed sluggish growth on the copper market demand outlook, Shanghai copper confined weak consolidation today, this is copper or fall.
hot financial information 1.
In July China official PMI49 manufacturing.
9, lower than expected, down from the line.
The official interpretation points out that the flood is one of the main cause of this month back.
In addition, the high-tech manufacturing PMI of record this year, the high technology manufacturing industry in the leading role of structure transformation.
Small and medium-sized enterprise PMI fell for two months in a row, all below the critical point.
The institute for supply management data, the July ISM manufacturing index 52.
6, less than expected, but in 9 months;
The prices paid index of 55, 61 less than expected, the new orders index 56.
57 9 also not as good as expected.
Another, according to data released on the same day in July Markit manufacturing PMI final value 52.
9, record since October last year.