Drive the market risk preference copper copper review: the rise in oil prices higher
today's copper price analysis and forecast:
a. International market
Kuwait oil workers went on strike for the country's average daily oil production cut sharply driving oil prices higher, investor sentiment transformation, market risk appetite improved, led by London copper base metal, the latest closing price of $4943, up $118, up to 2. 45%. Short of crude oil supply disruption caused by the support effect is obvious, but due to the global excess supply of crude oil is still exists, the persistence to market validation, investors remained cautious attitude. Dollar today, London copper edged lower $7, the latest opening price for $4936.
the London metal exchange, according to data released on April 19, copper inventories to reduce 2575 metric tons to 144700 tons. Cancel the LME copper warehouse inventory ratio of 15. 32%.
in the domestic market benefited from a weaker dollar index and the rise in oil prices, night Shanghai copper oscillation, optimism, Shanghai copper rose today, the current month 1605 contracts opened 37010 yuan, up 100 yuan, the territory of Shanghai copper 1605 contract offer 37680 rose 770 yuan; China's industrial and housing data last week accident after positive market outlook for China's economic growth is much more confidence, optimistic expectations about future copper market demand or support prices, is expected to rise in spot copper today.
hot financial information
1. Kuwait oil workers have been on the third day strike, make the country's average daily oil production cut sharply about 1. 7 million barrels a day, and the daily average of 1. 1 million barrels. WTI crude oil prices jumped 3% on Tuesday. Coldwell official said Monday, Kuwait's oil companies are struggling to restore efficiency of oil production and refining. Some analysts said the Kuwait production fell for the impact of oil prices is likely to be temporary.
2. The U. S. Commerce Department report released on Tuesday for the recent weak data, give a shadow over the economic outlook. Economists said the fragile economy, plus the inflation to moderate, prove that the fed to raise interest rates to take careful attitude is correct. Partial loose policy of the federal reserve is expected to a weaker dollar, because of low interest rates make the dollar less attractive to investors seeking yield.