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Review: copper demand concerns rekindle copper prices upward

by:Deyuan      2020-12-23
Abstract: boost commodity market sentiment rising gas prices, London copper closed up $20; China's slowdown in economic activity caused by metal demand outlook worries, short-term market sentiment so empty, now is now the copper price is limited.

today's copper price analysis and forecast:
a.
in the international market oil prices continue to slump or forced the main oil-producing countries to reconsider jelly production plan, frozen hope renewed push oil prices to refresh the five Zhou Xingao, basic metal prices boost overnight, copper strong shocks closed up $20, the latest closing price to $4772, or 0. 42%, position 349208 hand cut 578 hands, 11407.

the London metal exchange, according to data released on August 15, copper inventories increased 4775 metric tons to 207150 tons. Cancel the LME copper warehouse inventory ratio of 26. 72%.

2. Domestic market
1609 contracts opened today Shanghai copper current month 36980 yuan, down 170 yuan, 'Shanghai copper 1609 contract price of 37130 yuan, down 20 yuan. China's latest series of worse than expected economic data released by the slowdown in economic activity in China, sparked concerns about the outlook for industrial metals demand, light data this week, the market sentiment is still bearish, today in Shanghai is expected to maintain a consolidation trend, expected to today's spot copper co. , LTD.

hot financial information
1. On Monday, the association of home builders ( NAHB) The United States, according to figures released on August measure the NAHB housing market of homebuilder sentiment index of 60, with expectations, July data from 59 correction to 58. The latest data show that the builders further bullish on the us housing market.

2. Germany's central bank in its latest monthly report pointed out that the referendum back the influence on the German economy is limited, the German economy will continue to be a strong expansion, at least in the short term. And, for the global economy, the referendum on Europe is not a big risk. Germany's central bank is expected the third quarter of the German economy will benefit from the private consumption and manufacturing engine, sustained growth momentum.
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