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Review: copper demand outlook uncertain copper prices downward pressure in China

by:Deyuan      2020-12-23
Abstract: the dollar continuously strong weight copper, London copper fell 1. 46%, China's economic activity slowed in April increased the uncertainty of the copper market demand outlook, today Shanghai copper or invigorating the fall, is expected to copper continued to fall. ( )

today's copper price analysis and forecast:
in the international market the U. S. department of labor, according to data released last week jobless benefits increased, the biggest increase in more than a years. Investors anxiously waiting for the April jobs report released Friday by the United States, how will comb of the report about the job market will affect the signs of the pace of rate hikes. Dollar for three consecutive days strong weight copper, London copper fell $70, the latest closing price is $4771, or 1. 46%.

the London metal exchange on May 5, according to data released copper inventories increased 225 metric tons to 156725 tons. Cancel the LME copper warehouse inventory than 27. 18%.

in the domestic market in Shanghai today all low, the current month 1605 contracts opened 36700 yuan, down 180 yuan, 9:10 contract offer 1605, 36300 yuan in Shanghai copper fell 580 yuan; Chinese factory activity in April 14th consecutive months, showed that after march strong Chinese economic activity has slowed in April, this hit demand for copper market prospects optimistic expectations, Shanghai copper plate of the weaker night, today's spot copper price or continue to fall.

hot financial information
1. On Thursday, May 5) , the labor department data showed, the United States on April 29, when jobless claims rose to 27. 40000, the rise of record for more than a year, but it was already 61 consecutive weeks less than 300000, suggests that America's Labour market remained strong growth momentum. On April 30, the United States, according to the specific data when the jobless claims rose 1. 70000 to 27. Rose at new highs for more than a year, in 40000, higher than the expected value of 26. 0 m value before 25. 70000.

2. New services PMI 51 Chinese goods in April. 8, composite PMI 50. 8. Business growth is slowing, according to data services, manufacturing output growth retardation; Mild increase service sector employment, employment index in March after briefly fell below 50 rebounded to expansion interval, manufacturing employment continue to shrink; General increase inflationary pressure in the two big industry. Caixin he fan said, the economy is still facing greater downward pressure.
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