Day review: non-agricultural data forthcoming copper market sentiment
last night, us manufacturing PMI data than expected, the market for the fed to raise interest rates expected to heat up, investor risk aversion, commodity market sentiment, Aaron copper wide consolidation today, by the Beijing time 16:00, London metals ( LME） Copper latest offer $4603 fell $3. Market focus America may non-farm payrolls data on Friday night, or more clear direction for the fed to raise interest rates, short-term sentiment cautious, copper or fluctuation amplitude is limited.
2, domestic futures in Shanghai today weak shocks, high current month 1606 contracts opened 35210 low settlement, 35320, 35120, 35440 or 35340 yuan/ton, down 30 yuan, drop to zero. 08%; Positions, clinch a deal in Shanghai all contracts 486704 hand today, holdings reduce 1674 to 808342 hands. Main contract volume 273418, 2094 to 362532 hand more holdings. Shanghai copper weak consolidation today, China's manufacturing data mixed show that domestic economic downward pressure is still in the short term, short term no positive support, is expected to Shanghai consolidation remains.
3, the spot market, according to statistics show spot on June 2, 35420-1 # copper Deal fell 35440 yuan/ton, compared with the previous 60 yuan/ton, premium 120 - litre 140 yuan/ton; Shanghai spot 1 # electrolytic copper 35420 yuan/ton, flat, smooth water copper clinch a deal the price rose 10, 35410 litres of 35430 flat copper price; Guangdong spot 35280-1 # copper prices 35480 yuan/ton, down 50 yuan/ton; Huatong spot 1 # copper prices at 35455 yuan/ton, down 60 yuan/ton; Today's spot copper prices rise and fall generally is not big, but the downstream demand is limited, clinch a deal is still not better. Four, industry information
June 2, according to dow Jones news, Rio tinto ( Rio Tinto） Chief executive of Alf Barrios said, aluminum prices rebound slow, due to the high inventory levels and a slight imbalance between supply and demand. But he said: & other; This is a short-term situation. Longer term commodity markets, will be one of the fastest rising metal aluminum. ” He expected later in the decade, aluminum prices there will be a turning point. “ Demand is expected to increase 4%, the outlook is very strong. ”