Daily review: falling dollar copper prices taking advantage of raising interest rates are expected to increase
may U. S. non-farm payrolls data is far less than expected, the market docking down the federal reserve to raise interest rates expected a sharp drop in two months, today the dollar index according to the pressure on the volatile, copper of strong by the Beijing time 16:00, London metals ( LME） Copper latest offer $4734, up $51.
2, domestic futures in Shanghai today leave high to go high, the current month 1606 contracts opened 36180 high low settlement 36160 35860 36300, or 36300 yuan/ton, up 790 yuan, up to 2. 22%; Positions, clinch a deal in Shanghai all contracts 547058 hand today, holdings reduce 23718 to 767294 hands. Main contract deal 318566 hands, holdings to reduce 5418 to 346128 hands. Shanghai copper higher today, but 36500 above pressure remains; This week China will publish multiple blockbuster economic data may, for the greater influence on the commodity market, should be careful operation.
3, the spot market, according to statistics show spot on June 6, 36300-1 # copper 36320 yuan/ton, compared with the previous trading rose 650 yuan/ton, premium 130 - litre 150 yuan/ton; Shanghai spot 1 # electrolytic copper 36300 yuan/ton, up 700 yuan, smooth water copper clinch a deal the price rose 705, 36290 litres of 36310 copper price rise 700; Guangdong spot 36180-1 # copper prices 36380 yuan/ton, up 700 yuan/ton; Huatong spot 1 # copper prices at 36335 yuan/ton, up 650 yuan/ton; Spot copper prices, market inquiry, today a revival in popularity led to clinch a deal, trading slightly improved. Four, industry information
the central bank on Saturday, according to data released the country's copper output in the first quarter of 2016 fell 20%, usually, metal mining sector accounted for 98% of the Congo export revenues. Just last month, the government will cut their spending by 22% in this fiscal year budget, due to the mining sector revenues. Data show that the country's copper output of 219009 tons in the first quarter of this year, and in the same period of last year to 274201 tons. The LME three-month copper tumbled by 25% in 2015, and since the beginning of the year, the international copper prices fall further, resulting in glencore's Katanga copper company is located in Congo's cobalt announced that starting from September 2015 to suspend production for 18 months and layoffs.