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Review: copper inventories 11 months in Shanghai high pressure consolidation on the site

by:Deyuan      2020-12-23
Abstract: the stronger dollar on metal prices, every Zhou Lun copper pressure drop fell $10; Global stocks continue to increase or imply poor market demand, copper prices upward blocked, now is the spot copper co. , LTD.

today's copper price analysis and forecast:
a.
in the international market in August despite Friday's U. S. non-farm payrolls data was disappointing, but investors to the concerns of the federal reserve may raise interest rates in the coming months remain, the dollar to maintain a strong suppression of copper, insulation Zhou Lun copper closed down $10, the latest closing price at $4615. 14377 hand, holdings of 337618 an increase of 7370 hands.

the London metal exchange on September 2, according to data released copper inventories increased 13725 mt to 318500 mt. Cancel the LME copper warehouse inventory than for 12. 61%.

2. Domestic market
1609 contracts opened today Shanghai copper current month 36610 yuan, up 110 yuan, the territory of Shanghai copper 1609 contract price of 36520 yuan, up 20 yuan. Acquisition of copper stocks rose again last week, the latest inventory to 318500 metric tons, increased nearly 35% so far this year, the current high inventory for more than 11 months. Inventories increased according to market demand, copper prices above there is pressure, days in Shanghai consolidation is given priority to, material physical copper co. , LTD.

hot financial information
1. The U. S. labor department said on Friday, August non-farm jobs increase 15. In July 10000, the data is revised to increase 27. 50000, manufacturing and construction jobs, the unemployment rate unchanged from 4. 9%. Survey of analysts' estimates, add 180000 jobs last month, the unemployment rate dropped to 0. 1% to 4. 8%.

2. The U. S. department of commerce, according to the factory orders from July 1. 9%, is expected to increase 2%, numerical revised to June month-on-month drop 1. 8%. Factory orders less than expected in July, but the largest increase in nine months, reverse the decline for two consecutive months. But it is worth noting that the factory orders year-on-year movements, 21 months year-on-year decline in a row.
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