Review: copper inventories rose to ten months above high copper prices remain under pressure
today's copper price analysis and forecast:
a. International market
non-agricultural data released on Friday before the dollar index rising, basic metal pressure consolidation, evening London copper edged higher after shock slump, $12 closed at $4609 in late fall, fall to zero. 25%; Volume 17286, holdings of 337126 hand reduce 39 hands. Market focus will tomorrow, August Chinese manufacturing data released may provide clues about Chinese demand.
the London metal exchange on August 30, according to data released copper inventories increased 11650 mt to 283225 mt. Cancel the LME copper warehouse inventory ratio of 15. 53%.
in the domestic market in Shanghai today slightly low, 1609 contracts opened the current month of 36220 yuan, down 170 yuan, the territory of Shanghai copper contract offer $1609 to $36300, down 90 yuan. Aaron copper stocks rose again yesterday, at present the stock up to 28. 320000 tons, hit a new high since last October. Short-term U. S. economic growth, combined with the market in August to non-agricultural data is generally good, concern about the fed will raise rates permeated the market, and get a boost has gained $4, commodity prices are under pressure, so whole days to consolidate copper prices, is expected to this spot copper co. , LTD.
hot financial information
1. The conference board ( 会议委员会) On Tuesday, On August 30) August released data show that U. S. consumer confidence index is better than expected, and the highest since September last year. Detailed data show that U. S. consumer confidence index for August 101. 1, the forecast for 97. 0, 7 menstrual revised for 96. 7, the first value is 97. 3.
2. The fed chairman yellen's speech about raising interest rates last week makes this week's U. S. non-farm payrolls data became the focus of the market. But some investors are very cautious to read too much into a data alone. Schwab's analysts said the education sector employment data affected by seasonal adjustment of school year, August non-farm payrolls may have a significant correction. In general, there may be a raise interest rates before the end of the year, but September is unlikely.