Daily review: the copper market substantial slowing demand for copper prices down to up
Chinese demand concerns upgrade, today Shanghai green metal across the board, led by Shanghai copper market in more than a month low; Next week there will be many domestic economic data, including: China's first quarter GDP data, such as import and export, industrial big data. Before this market more cautious wait-and-see attitude. ( )
a technical trend analysis.
in the international market, according to the latest report of the world trade organization this year global trade growth will slow down the fifth year in a row, as the worst since the 1980 s; Recent commodity market sentiment remains poor, but a weaker dollar index in the afternoon, copper temporarily get breathing room afternoon concussion higher, as of 16:00 (Beijing time), the London metals ( LME） Copper latest offer $4632, up $37.
2. Domestic futures
Shanghai copper losses accelerated today, 1604 contracts opened 36370 high 36370 low current month settlement, 35870, 35680 or 35760 yuan/ton, compared with the previous trading day down 950 yuan/tons, or 2. 59%; Positions, clinch a deal today Shanghai copper all contract 775224, 30248 to 775664 hand more holdings. Main contract volume 506212, 19508 to 349294 hand more holdings. Copper prices fell below 35900 points support today, short dominated the market at present, Shanghai copper or will fall further, it is advisable to short-term wait-and-see.
3. Spot market
on April 7, according to statistics the spot 1 # copper 35940 - quotation 35960 yuan/ton, compared with the previous deal fell 810 yuan/ton, litres of water to 60 litres of 80 yuan/ton; Shanghai spot 1 # electrolytic copper to 35880 yuan/ton, compared with the previous trading day down 850 yuan/tons, smooth water copper clinch a deal the price down 35860, 850, 35890 litres of copper price fall 850; Guangdong spot 35780-1 # copper prices 35980 yuan/ton, compared with the previous trading day down 810 yuan/ton; Huatong spot 35965-1 # copper prices 35985 yuan/ton, compared with the previous trading day down 810 yuan/ton; Today the domestic spot copper prices fell, the early stage of the market is expected to domestic copper by the warehouse receipt of the previous period increased significantly more is caused due to the warehouse receipt pledge financing demand, domestic market substantial slowdown in demand for copper view more pessimistic.
related to watch
San Diego April 7 news, Chile's central bank, according to data released Thursday Chile copper exports in the first three months of 2016 to 67. $400 million, 79 from a year earlier. $7. 5 billion down 15%. Chile is the world's largest producer of copper, produced 579 last year. 40000 tons of copper. First three months of 2016 Chilean copper concentrate exports fell 18% to 28. 8. 8 billion dollars, cathode copper exports fell 12% to 32. 9. 3 billion dollars. In march, the Chilean copper exports is 24. $1. 9 billion, down 12% from a year earlier. In march the cathode copper exports were down 20% from a year earlier to 10. 9. 4 billion dollars, copper concentrate exports were down 7% from a year earlier to 11. 1. 8 billion dollars.