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Copper review: waiting for the Chinese market in the third quarter data mainly wait-and-see

by:Deyuan      2020-12-25
Abstract: the enterprise strong earnings boost stocks, the evening copper situation stabilized closed at $4675; China's economy is mixed again raising concerns, short-term Shanghai copper rose lack of motivation, copper is expected today now stabilized.

a. Today's copper price analysis:
strong quarterly results improved the large companies in the United States market risk sentiment, Europe and the United States a rising stock market, London copper situation stabilized, up late for a $1, close to $4675. 14514 an increase of 2186 hands, holdings 322228 hand cut 4868 hands. U. S. core inflation continued positive add confidence to enhance economic prospects, the probability of the federal reserve in 2016, raising interest rates still remain at 70%.

the London metal exchange on October 18, according to data released copper inventories increased 2200 mt to 348000 mt. Cancel the LME copper warehouse inventory than for 28. 85%.

2.
in the domestic market in the near future Chinese economic data released by the mixed enhanced investor worries about China's economic health, Shanghai copper momentum is insufficient, evening to maintain shock consolidation trend, the current month 1611 contract closed at 37320 yuan, 20 yuan, up up to 0. 05%; 1611 contracts opened today Shanghai copper current month 37300 yuan, flat, 9:10 Shanghai copper contract offer $1611 to $37340 up 40 yuan, lack of good recently, the Shanghai copper rebound kinetic energy is not enough, today China's GDP data, and a series of key economic data before markets wait-and-see atmosphere partial thick, is expected to spot copper price is today.

hot financial information
1. The institute of international finance in China's economic and financial research team, according to a report released recently into the third quarter, China's economy is stable as a whole. External demand picks up, the RMB exchange rate depreciation and low base last year, making exports a downward pressure relief. At the same time, the cumulative effect, the real estate market in steady growth policy heating, energy, raw material industry to improve under the influence of factors such as investment, consumption, industrial production and capacity, and other major economic indicators showed signs of stabilization, private investment has also changed the downward trend from month to month. PMI, export leading index of leading indicators also show that in the near future will continue to stabilize the economy. 6 is expected in the third quarter GDP growth. In the first half of around 7%, and flat.

2. Goldman sachs comprehensive than expected earnings in the third quarter, revenue rose 19% to 81. $700 million, net income soared 57. 9%. Trading department especially bright eye, trading revenue growth of 17% up to 37. $500 million, including solid business but also surged 34%, join investment Banks such as citigroup and jpmorgan chase, bright eye earnings season.
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