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Daily review: a stronger dollar expected drag copper losses

by:Deyuan      2020-12-23
Copper market analysis

1, the international market after the federal reserve released April meeting minutes, for the possibility of the fed's recent interest rate increase continuously strengthen, the us dollar has got a boost positive, the plate of low open low walk today, as Beijing time 16:00, London metals ( LME) Copper latest offer $4658 fell $29.


2, domestic futures today Shanghai copper sharply lower, and the current month 1606 contracts opened 35770 high low settlement 35370 35200 35820, or 35230 yuan/ton, down 540 yuan, down to 1. 51%; Positions, clinch a deal today Shanghai copper all contract 630012, 40934 to 810016 hand more holdings. Main contract volume 323974, 38972 to 360438 hand more holdings. The fed's recent interest rate increase expected rising, the outlook for the dollar good, short-term copper or remain under pressure.


3, the spot market spot on June 1, according to statistics, 35480-1 # copper 35500 yuan/ton, compared with the previous deal fell 420 yuan/ton, premium 110 - litre 130 yuan/ton; Shanghai spot 1 # electrolytic copper 35420 yuan/ton, compared with the previous trading day down 390 yuan/tons, smooth water copper clinch a deal the price down 35400, 400, 35430 litres of copper price fall 390; Guangdong spot 35330-1 # copper prices 35530 yuan/ton, down 410 yuan/ton. Huatong spot 1 # copper prices at 35515 yuan/ton, down 420 yuan/ton; Published today, the Chinese manufacturing PMI data showed China's manufacturing expansion has for three consecutive months, although this may bring certain support for raw materials market, but in the copper price and did not expect so optimistic. Because of poor market demand, the recent copper difficult rising opportunity to China. Four, industry information


Lima on May 31, news, trade unions, said chinalco ( Chinalco) , Peru Toromocho people on Tuesday began to strike for four days, the miners to restore quarterly bonus. 800 workers from 6:30 a. m. local time ( 格林威治时间1130) Went on strike. After a decline in copper prices, which in suspension quarterly bonus. According to Peru's energy and mines department data, the Toromocho copper output in the first quarter of 31407 tons of zinc output of 5500 tons.
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