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Copper review: the unknown copper hedge back the details

by:Deyuan      2020-12-23
Abstract: the British withdrew the details are unknown, risk aversion is given priority to, short leave late push copper closed up $8, markets for China's PMI data on Friday, to look for clues to the future demand for copper, this is copper or small gains. ( )

today's copper price analysis and forecast:
although the international market after a referendum in Britain withdrew the widely expected economic stimulus measures, central Banks will come but the details the uncertainty caused by market volatility, short leave temporarily, copper shock consolidation in the evening, late edged up $8, the latest closing price at $4706. Thinly traded, the market at present is expected to copper short-term movements difficult to respond.

the London metal exchange on June 27, according to data released copper inventories to reduce 675 metric tons to 191700 tons. Cancel the LME copper warehouse inventory than 27. 03%.

in the domestic market in Shanghai today open slightly higher, the current month 1607 contracts opened 36480 yuan, up 110 yuan, 'Shanghai copper 1607 contract price 36500 yuan rise 130 yuan; Concerns about China's economy and demand growth, China's manufacturing PMI data released on Friday or provide clues for future demand for copper, before this sentiment is still cautious, Shanghai copper or continuation of consolidation trend today, is expected to today's spot copper copper rose slightly.

hot financial information
1. S&p cut the AAA sovereign credit rating for the first time since 1978, by two notches cut outlook and predicted to relegation. S&p think back the affect the British economy, finance, foreign trade and even pound international reserve currency status, if the Scottish referendum will detonate a constitutional crisis again. After another ratings agency fitch ratings downgrade Britain, also outlook also negative.

2. Britain withdrew the killings continues, bring out the details of the uncertainty has caused more extreme market volatility. GBP/usd intraday fell 4%, and refresh the 31-year low; European shares extended losses; For the first time in the history of the British 10-year yields fell below 1%, Spanish 10-year bond yields fell below Italy over the same period; Dollar/yen fell more than 0. 4%.
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