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Copper review: the us housing data bullish market prices rise further

by:Deyuan      2020-12-23
Abstract: crude oil rise further boost copper prices and the dollar weakness, London copper were up nearly 2%, strong U. S. housing data boosted the copper market demand, is expected in Shanghai today of strong material spot copper edged up. ( )

today's copper price analysis and forecast:
a. International market
Greece aid agreement reached eased investor worries about Greece's debt crisis, oil prices rise further, and in global equity markets, investor short-covering, overnight copper, copper closed at $4676, up $89, up to 1. 95%.

the London metal exchange on May 25, according to data released copper inventories to reduce 2000 tons to 155250 tons. Cancel the LME copper warehouse inventory than 29. 15%.

2.
in the domestic market in Shanghai today open slightly higher, the current month 1606 contracts opened 35680 yuan, up 180 yuan, 'Shanghai copper 1606 contract price 35700 yuan rise 200 yuan; U. S. new home sales in April and the highest level in more than eight years, suggests that the U. S. economy continues to grow rapidly, because of the copper is an important part of the housing construction, housing data good prospects will drive the copper market demand, so the data become a rise in the copper market impetus, short profits, night Shanghai copper strong finishing, today Shanghai copper or continue strong trend, spot copper is expected to rise further.

hot financial information
1. On Wednesday, the United States energy information administration ( EIA) , according to the American weekly EIA crude oil inventories on 22 May 422. On April 1, 60000 barrels a day, the biggest weekly decline since, is expected to reduce 2 million barrels of oil. Gasoline stocks in 204. On February 12, 30000 barrels a day, the largest increase since the week. EIA data after the release, oil prices narrowed.

2. On Wednesday, On May 25) Financial data firm Markit, an industry report showed the United States may services purchasing managers' index ( PMI) Less than 4 surveys of the data on the U. S. economy will rebound in the second quarter of hope. In may, according to the American Markit purchasing managers' index (service industry PMI) The initial value of 51. 2, 4 surveys is 52. 8. The United States may Markit composite purchasing managers' index ( PMI) The initial value of 50. 8, 4 surveys is 52. 4. 50 is the growth of the industry atrophy or watershed.
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