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Review: Chinese poor data copper sentiment, cold and cheerless

by:Deyuan      2020-12-23
The copper market analysis, the international market a

the United States on August 6, when the jobless claims although slightly higher than the expected value, but has less than 300000, 75 consecutive weeks continuous time and the longest since 1973, suggests that the Labour market is still very strong in early August, may stimulate accelerate economic growth, as the dollar Gao Zaitian basis. Today international metal pressure oscillation, copper as weak performance, by the Beijing time 16:00, London metals ( LME) Copper latest offer $4812 fell $10.


2, domestic futures in Shanghai today for consolidation trend, the current month 1608 contracts opened 37400 high low settlement 37380 37320 37480, or 37410 yuan/ton, up to 50 yuan, up to 0. 13%; Positions, clinch a deal in Shanghai all contracts 257364 hand today, holdings reduce 5802 to 532278 hands. Main contract deal 175934 hands, holdings to reduce 1980 to 236262 hands. In July China's economic comprehensive cooling, published today, the industrial growth in July, social consumption, the real estate investment, commercial housing sales growth is slowing for three months in a row.


3, the spot market on August 12, according to statistics the spot 1 # copper to 37500 yuan/ton, a rise of 30 yuan/ton, in the last trading day of 100 litres to 160 litres of water; Shanghai spot 1 # electrolytic copper 37450 yuan/ton, up to 35 yuan, the past decade copper clinch a deal the price 37395 yuan rise 20 yuan, 37490 litres of copper price rise 30 yuan. Guangdong spot 1 # copper prices at 37400 yuan/ton, up 20 yuan. Huatong spot 1 # copper prices at 37525 yuan/ton, up 30 yuan/ton. Today's spot prices steadied, domestic economic data is not good and the weekend approaches, market sentiment light, trading co. , LTD. Four, industry information


foreign media on August 11, according to people familiar with the matter, after a failed to reach a high enough price, glencore ( 嘉能可) Put the planned sale of the Chile a copper mine, after the mine is expected to fetch about $500 million. An unnamed sources, said the deal was not completed part of the reason is that prices have not reached glencore's expectations. In addition, the source said, glencore think oneself more powerful, don't have to be forced to finish the deal at any cost. Sources said, although glencore could still change their minds, or will be put forward the potential buyers of a higher bid, the company decided to keep the mine at present. Glencore declined to comment on the matter. Glencore is a mining and trading company based in Switzerland, will be announced later this month.
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