Poor copper review: Chinese copper demand outlook copper prices remain under pressure
today's copper price analysis and forecast:
in the international market on Wednesday said the fed's April meeting minutes, if the U. S. economy continues to improve, the fed could raise interest rates in June meeting. Minutes after the release, the market expected the possibility of raising interest rates rise sharply in June, released by the minutes before the rapidly increase of 19% to 34%. The fed to raise interest rates expected to heat up, U. S. stocks highs, London copper weak turbulence, late fell $6, the latest closing price to $4634.
the London metal exchange, according to data released on May 18, 100 tons of copper inventories increased to 156850 tons. Cancel the LME copper warehouse inventory than of 20. 51%.
2. Domestic market
Shanghai copper low open today, 1606 contracts opened the current month of 35240 yuan, down 300 yuan, 9:10 contract offer 1606, 35400 yuan in Shanghai copper fell 140 yuan; World metal statistics released on Wednesday, according to a report in the first three months, the global copper market oversupply 7. 46 70000 tons in 2015, the year of excess. 30000 tons. Although the data show that since this year the global copper market surplus scale narrowed somewhat, but this month, China announced a number of weak economic data caused investors worried about the future of China's copper demand, today Shanghai copper weak shocks, is expected to spot copper fell slightly.
hot financial information
1. Released on Wednesday said the fed's April meeting minutes, if the future data shows the U. S. economy is improving, the federal reserve may raise interest rates in June meeting. The vast majority of the participants think that if in the future, according to data in the second quarter economic growth accelerated, continued strength in the Labour market, towards the fed 2% inflation goal, so the fed to raise interest rates in June meeting is appropriate.
2. The United States energy information administration ( EIA） , according to data on May 15, the week, the EIA 1. 31 million barrels of crude oil inventories unexpectedly increased, is expected to reduce 3. 5 million barrels of oil. In Cushing crude oil inventories increased 46 accidentally. 10000 barrels a day, is expected to reduce 550000 barrels of oil. Data after the release, WTI short-term fall 0. 48 $43 a barrel. Immediately after the $21, go up to 48 a barrel. 73 dollars.