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Copper review: the rise in crude oil supported copper end five Yin

by:Deyuan      2020-12-23
Abstract: crude oil rebound, investors short covering, London copper rally closed up $22, strong U. S. data or drive the market sentiment today, Shanghai copper market strong, is expected to today's spot copper rose slightly. ( )

today's copper price analysis and forecast:
in the international market, according to a Reuters poll on May 20, as of a week, the United States commercial crude stocks could fall by 2. 5 million barrels a day, to 5. 38. 8 billion barrels of oil. Expectations of crude oil inventories fell driven drive oil prices to $50, night market sentiment to get a boost, and the investor short-covering, London copper end five losses, closed up $22 to $4587, or 0. 47%.

the London metal exchange on May 24, according to data released copper inventories increased 2250 tons to 157250 tons. Cancel the LME copper warehouse inventory ratio of 26. 93%.

in the domestic market in Shanghai today open slightly higher, the current month 1606 contracts opened 35420 yuan, up 230 yuan, 'Shanghai copper 1606 contract price 35400 yuan rise 210 yuan; April new home sales data on Tuesday showed U. S. supreme rose to more than eight years, house prices are a record high, that the United States is in the second quarter economic growth speed, improved market sentiment, but also for the fed to raise interest rates further in advance, performance remains cautious, short-term market is expected today Shanghai copper strong shocks, is expected to spot copper with rose slightly.

hot financial information
1. The fed's April meeting minutes was released, several fed officials to raise interest rates again, that makes the market's expectations of the fed to raise interest rates in the summer significantly enhanced. At present, July meeting suddenly become the focus of the next raise interest rates. , according to bloomberg news, according to data from the fed-funds futures traders expected to raise interest rates in July rate is 57%.

2. On Tuesday, the U. S. department of commerce data show that the United States in new home sales in April 61. 52 90000, far more than expected. In March 30000, from 51. 10000 revised to 53. 10000 households. Housing sales rose in April 16. 6%, the largest since January 2008. Housing data show that U. S. economic growth in the second quarter.
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