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On May 9, LME metals were reviewed

by:Deyuan      2020-12-23
On May 9, London, London copper closed sharply lower on Monday, as China's weak economic data and a stronger dollar.

London time on May 9, 16:00 ( Beijing time on May 10th 00:00) The London metal exchange ( LME) Three-month copper fell 2. 6%, to $4686 a tonne, hit earlier 12 lowest since April 4685 dollars.

China customs import and export data released Sunday April dollar-denominated both return to fall, and fell more than expected, highlighting weak demand at home and abroad. Although copper imports to increase from a year earlier, but the decline in March hit a record high of 21%.

AsaBridle CantorFitzgerald analyst said: & other; China's exports and U. S. jobs report means that we have yet to see clear signs of economic recovery. ” “ The outlook is unclear. I fear that if economic data don't improve, the market will fall further.

in the weak economic growth, productivity and profits of background, the United States in April jobs growth was lowest in seven months.

these message prompted some financial institutions to the United States this year increases from two to one.

however, the New York fed President William Dudley said Friday the fed to raise interest rates twice this year is & other Reasonable expectations throughout the &; 。

Dudley's comments for the dollar. The strong dollar, have made dollar-denominated commodities for non-us companies more expensive.

the London metal exchange and Shanghai futures exchange control warehouse stocks of copper high, the copper prices under pressure.

traders pointed out that China's copper imports fell from a record high in April, this is the main reason for the copper prices fell.

td securities wrote in a report: & other; Given China's retail investors in commodity trading activities recently increased sharply, the worry now is prices will trigger a margin calls and forced to sell. ”

in addition, a stronger dollar also dragged down by copper. Copper in dollar terms, when the dollar, copper prices relative to the investors with funds in non-dollar currencies become more expensive, to crack down on such investor interest. The Wall Street journal, the dollar index last at 86. 52, rose 0. 50%.

other metals, the three-month aluminum closed down 2. 3% to $1561 per ton.

the three-month zinc was down 2. 8%, to $1835 per ton.

the three-month lead down 1. 2%, to 1730 per ton. Five dollars.

the three-month tin fell 1. 1%, to $17225 per ton.

the three-month nickel dropped by about 5%, to 12 lowest since April 8605 dollars.
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