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Review: copper has been near the end of August the copper market season be far behind?

by:Deyuan      2020-12-23
Abstract: stocks continued to climb on copper, evening copper bearing small fell $2; The upcoming season in September or drive the market demand, optimism, days Shanghai copper or stop falling stabilizing, material physical copper co. , LTD.

today's copper price analysis and forecast:
a. International market
the LME copper stocks continued to rise, the current inventory about 26. 40000 tons, more than nine and a half months high refresh, evening copper upward blocked, closing down $2, closed at $4627. Volume 15690, 337982 holdings of an increase of 2257 hands. The lack of real demand, rising prices before the end of this month is difficult.

the London metal exchange on August 25, according to data released copper inventories increased 9175 mt to 263875 mt. Cancel the LME copper warehouse inventory than 19. 11%.

2. Domestic market
1609 contracts opened today Shanghai copper current month 36980 yuan, 10 yuan, 'Shanghai copper contract offer $1609 to $36900, down 70 yuan. Recent copper stocks continue to soar, and copper prices downward pressure, but since the September and October is coming, the domestic market will usher in industrial metals demand season, some market participants, requirements for optimism, afternoon in the rear copper prices continue to fall sharply. Shanghai copper shock consolidation is expected to days, this spot copper fell slightly.

hot financial information
1. The 4 July durable-goods orders from initial value. 3 4%, better than expected. Increase 4%, and the biggest since October last year. At the same time, July durable-goods orders by its core capital ( The durable goods orders excluding aircraft non-defense capital) Rose for a second consecutive month, 6 months and the biggest gain, this shows that corporate spending downturn there are tentative signs of improvement.

2. On Thursday, the Kansas city fed President George and Dallas fed chairman Kaplan successively to raise interest rates reached a debate. George said that now is the time to start raising interest rates, Kaplan says loose power in enhancement. Last week the fed's Dudley number three characters in the three senior officials are mentioned that the fed could raise rates this year.
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