Daily review: easing expectations on Shanghai copper eight-month highs on the site
stocks opened lower high, the Shanghai composite index rose 1. 91% hit 3000 points, commodity market sentiment for a boost, copper high and volatile, and by the Beijing time 16:00, London metals ( LME） Copper latest offer $4936 up 30 dollars.
2, domestic futures in Shanghai today leave high to go lower, the current month 1607 contracts opened 37200 high low settlement 38030 37200 38360, or 38260 yuan/ton, up 900 yuan, or 2. 41%; Positions, clinch a deal today Shanghai copper all contract 1093906, 48806 to 659864 hand more holdings. Main contract volume 682034, 42662 to 293484 hand more holdings. Economic stimulus policies, days after the commodity market is strong, Shanghai copper eight-month highs on the site.
3, the spot market spot on July 4, according to statistics, 38280-1 # copper 38300 yuan/ton, compared with the previous trading rose 820 yuan/ton, 50 litres of water to litres of 70 yuan/ton; Shanghai spot 1 # electrolytic copper 38160 yuan/ton, up 735 yuan, smooth water copper clinch a deal the price rose $38150 to $745, 38180 litres of copper price increase 740 yuan. Guangdong spot 1 # copper prices at 38300 yuan/ton, up 750 yuan/ton; Huatong spot 1 # copper prices at 38315 yuan/ton, up 820 yuan/ton; Spot copper sharply higher today, the shipper will delivery, wait-and-see sentiment strong, downstream market clinch a deal is not much. Four, industry information
in Chile's Escondida mine is the world's biggest copper mine, in 2016 in the first quarter profit fell 47%, to 2. 6. 5 billion dollars. The mine is two mining giants BHP billiton ( 57. 5%) And Rio tinto ( 30%) Its assets. In the first quarter of 2016 in the production of 26. 340000 tons of 50000 tons of copper, than the same period last year dropped by 23%. Income lower than last year's $2 billion to $1. 4 billion, down 30%.