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Copper review: traditional consumption season draws to a close copper stress significantly

by:Deyuan      2020-12-23
Abstract: by a strong dollar and weak manufacturing data such as China, copper weak this week, fell 1 again overnight. 36% to $4841, night Shanghai copper also low consolidation, this is copper or slightly down. ( )

today's copper price analysis and forecast:
a.
fed officials recently international market uncertainty aggravate the FOMC rate outlook of speech, a stronger dollar for two consecutive days to crack down on commodity market investment enthusiasm, Aaron copper weakness since this week, the overnight LME three-month copper falling close to $67, or 1. 36% to $4841 per ton.

the London metal exchange on May 4, according to data released copper inventories increased 1825 metric tons to 156500 tons. Cancel the LME copper warehouse inventory than for 22. 73%.

2.
in the domestic market in Shanghai today across the low opening, 1605 contracts opened 37090 yuan, the current month fell 50 yuan and 9:10 contract offer 1605, 36920 yuan in Shanghai copper fell 220 yuan; Commodities trade ShangJia can, according to data released yesterday copper output fell 4% year-on-year in the first quarter, mainly by the Africa programme production. But the news about production surge, Peru, Chile, display of global excess supply pattern of short-term or is difficult to reverse. At present, the market of traditional consumption season draws to a close, but still the copper market supply is adequate, from the recent domestic and foreign data, the recovery is still not obvious, the market demand, is expected to short-term Shanghai copper upward, today's spot copper or slightly down.

hot financial information
1. According to the report, released Wednesday's ADP, the new employment slowed sharply to 15 April. 60000 people, less than 19. 50000 people expected, and the lowest in three years. Nonfarm payrolls report will be released on Friday, and economists expect the surveyed by bloomberg expected, employment will be increased by 200000 people, below on March 21. 50000 people; The unemployment rate will fall to 4. Of 5% 9%, 3 month. ADP employment data tracking, private non-farm employment changes every month, usually two days ahead of the U. S. labor department's non-farm report released, is an important index of non-agricultural market forecast government report.

2. The U. S. department of commerce data show that the United States in March durable goods orders rose by 0. 8%, in line with expectations. On the same day, the United States also announced in March April ISM non-manufacturing index and factory orders. The institute for supply management ( ISM) In April, according to data released the ISM non-manufacturing index of 55. 7, more than expected 54. 8, also higher than the previous value of 54. 5, in four months. U. S. factory orders rose in March 1. 0 1%, sharply than expected growth. 6%.
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