Daily review: waiting for non-agricultural data to guide copper price carefully
in the evening before the U. S. employment data, traders on the short dollar profit taking, the dollar index according to the afternoon falling support prices, by the Beijing time 16:00, London metals ( LME） Copper latest offer $4806 rose $35. Although several fed officials this week said publicly support rate in June, but the ADP employment growth in the lowest level in three years, for the upcoming April U. S. non-farm payrolls report overshadowed, increase in the federal reserve to raise interest rates in June uncertainty factors, the market waiting for data to guide.
2, domestic futures in Shanghai today weak consolidation, the current month 1605 contracts opened 36700 high low settlement 36470 36300 36800, or 36510 yuan/ton, compared with the previous trading day down 370 yuan/tons,
drop to 1. 00%; Positions, clinch a deal in Shanghai all contracts 598636 hand today, holdings reduce 15638 to 717036 hands. Main contract deal 371676 hands, holdings to reduce 6500 to 308860 hands. Today short profit off limits the further price drop space, pay attention to the late April non-farm payrolls data.
3, the spot market, according to statistics show spot, May 6, 1 # copper 36500 - quotation 36520 yuan/ton, compared with the previous deal fell 410 yuan/ton, 10 litres to liters of 30 yuan/ton; Shanghai spot 1 # electrolytic copper 36430 yuan/ton, compared with the previous trading day down 470 yuan/tons, smooth water copper clinch a deal the price down 36420, 470, 36440 litres of copper price fall 465; Guangdong spot 36400-1 # copper prices 36600 yuan/ton, compared with the previous trading day down 380 yuan/ton; Huatong spot 36525-1 # copper prices 36545 yuan/ton, compared with the previous trading day down 410 yuan/ton; Domestic market is the traditional peak season draws to a close, the market demand will be affected, is expected in the short term prices down to up.
related to watch
on May 3rd, BHP billiton and vale accidents by the Brazilian authorities for huge compensation litigation, due to the amount more than expected, investors worried about compensation will hit the company's performance, on the day of BHP shares fell 7%.