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Review: copper inventories continuous explode first copper reduction vibration or small gains

by:Deyuan      2020-12-23
Abstract: crude oil futures rose to boost commodity market sentiment, evening copper dip rebounded to $4665, copper stocks in the continuous after recovering from a back slightly shows the market demand, the material is copper edged up today.

today's copper price analysis and forecast:
a.
in the international market to boost U. S. crude oil inventories unexpectedly large drop, crude oil futures surged by 4% in the evening, by driving a gently rising commodity prices, late copper dip after the shock rebound, late closed up $14, the latest closing price to $4665; 11369 hand, holdings 330811 hand cut 148 hands.

the London metal exchange on September 8, according to data released copper inventories to reduce 1375 mt to 338225 mt. Cancel the LME copper warehouse inventory than for 13. 96%.

2. Domestic market
1609 contracts opened today Shanghai copper current month 36550 yuan, down 70 yuan, 'Shanghai copper 1609 contract price of 36620 yuan, flat; Customs data showed yesterday, China's imports of unwrought copper and copper in August of 350000 tons, 360000 tons of imports fell from July 2. 8%, because of the summer light demand, China's copper imports in August the lowest level in a year. Yesterday Aaron copper stocks in the continuous growth in a slight drop in 12 working days, or according to the market demand began to recover, today Shanghai copper or rose slightly.

hot financial information
1. According to the us dollar, imports in August 1. 5%, the positive for the first time in two years, the decline in July 12. 5% significantly improved; Exports fell 2 August. 8%, from July 4. 4% of the decline. , according to analysts at import improvement and recovering commodity prices and the resulting short-term impulse purchasing, domestic demand, there is no obvious change, improve the seasonal factors are mainly for export.

2. The European central bank announced today maintain three interest rates unchanged, maintain asset purchases unchanged at 80 billion euros, project time limit and maintain the QE remains the same. However, the European central bank points out, if necessary, QE project will be extended to March 2017, until the path of inflation close to target. Some economists point out that because of the federal reserve may raise interest rates in September, for the European central bank, waiting and keep ammunition is relatively easier to choose.
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