Daily review: easing expected support copper prices fell slightly
China's 2015 annual economic is pale and MSC, again knock alarm bells went off to the world economy, the IMF also cut global economic growth forecast for this year, for the third time in a year, highlights the plight of the global economic recovery is slow, drag the basic metal, however, helped by the market of China will offer a more easing policy to stimulate the expectations of the economy and the dollar index dropped to copper provides a supportive, limit copper losses, today Shanghai copper shock dipped. ( )
a technical trend analysis. Negative
in the international market of crude oil market, first of all, the IEA report points out that excessive saturation due to the global oil market, crude oil prices or continue to dip in 2016, followed by Iran to lift sanctions on the first day was announced in February by export prices, renewed crude oil price, in addition, Iraq's oil minister announced production cuts that are influenced by this bad news, oil prices have tumbled in drag on copper, but restricted by the dollar index lower copper losses, Aaron copper fell today, made by Beijing time, the London metals ( LME） Copper latest offer $4378 low 14. Five dollars. Night on the December CPI rate and housing starts and building permits in December.
2. Domestic copper futures
today Shanghai opened higher after shocks down, keep all day weak volatile, Shanghai copper current months opened 1602 35110 35320 35410 34950 less settlement, or closed at 35020 yuan/ton, compared with the previous trading day down 110 yuan/tons, or 0. 31%; Shanghai copper main 1603 contract opened 35400 yuan/ton, closed at 35080 yuan/ton, compared with the previous trading day down 90 yuan/tons, or 0. 26%; Positions, the main contract volume reduced 14. 10000 hands, reduce holdings of 2098 hands; Today Shanghai copper fell slightly, on the trend of it, today near Shanghai copper fell back to 5 daily average line, and now also has no positive support rebound, is expected to remain volatile market prices in the short term.
3. Spot market
on January 20, according to statistics the spot 35000-1 # copper price clinch a deal the price 35020 yuan/ton, compared with the previous trading rose 165 yuan/ton, discount discount from 150 to 130 yuan/ton; Shanghai spot 34850-1 # electrolytic copper 35000 yuan/ton, compared with the previous trading day rose 125 yuan/ton, 34850 - smooth water copper clinch a deal the price Rose 160, 34970 litres of water 34870 - copper price 35000 95 up; Guangdong spot 35000-1 # copper prices 35200 yuan/ton, compared with the previous trading day up to 50 yuan/ton; Huatong spot 35025-1 # copper prices 35045 yuan/ton, compared with the previous trading day up 165 yuan/ton; This spot copper rose slightly, the grocers have different price, now the copper discount narrowed somewhat, middlemen dips receiving, downstream market volume fell, yesterday on the market as a whole about light.
related to watch
1. Tokyo on January 20, the wire and cable manufacturers association ( 日本电气Wireand电缆MakersAssociation) On Wednesday, according to Japanese copper cable shipments (in December 2015, Including sales and exports) Year-on-year decline in 2. 6% to 58400 tons.
2. Foreign media on January 20, BHP billiton ( BHP Billiton） According to data released on Wednesday, copper production of 800000 tons in the first half of the company, fell 6% from a year earlier.
3. According to the Ministry of Commerce on January 19, monitoring: last week ( On January 11 to 17) Metal extraction solution than a week before down 2. Enlarge 1 2%, a drop from the previous week. 2%, with copper prices fell 3. 6%.