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Review: copper production growth and slowing demand for copper prices weak still

by:Deyuan      2020-12-23
Abstract: the fed's decision late in line with market expectations, copper weak turbulence fell 0. 79%; Output growth in China and a slowdown in demand on copper, days after the Shanghai copper or weak finishing, material is copper fell today.

today's copper price analysis and forecast:
a. International market late
the fed to keep interest rates unchanged at a meeting in July, but the minutes at the same time, according to the voting members remain divided about whether to raise interest rates in the short term, the fed wants to keep option years raising interest rates, but some officials want to wait for more economic growth and inflation data. Overnight base metals were mixed, copper weak turbulence, closed down $38 to $4775, or 0. 79%; Volume 9548, position 345121 an increase of 2648 hands.

the London metal exchange on August 17, according to data released copper inventories increased 7925 mt to 213300 mt. Cancel the LME copper warehouse inventory than for 28. 23%.

in the domestic market in Shanghai today slightly low, 1609 contracts opened the current month of 37100 yuan, down 100 yuan, the territory of Shanghai copper contract offer $1609 to $37110, down 90 yuan. China's weak economic data, night Shanghai copper weak shock; The National Bureau of Statistics data released on Wednesday showed that China's refined copper production rose in July 9. 6% to 72. 200000 tons. Production continues to rise and China's manufacturing sector slowing down the copper market demand outlook, short-term market sentiment, Shanghai copper or weak consolidation today, this spot copper fell slightly.

hot financial information
1. The federal reserve meeting minutes, according to federal reserve officials are still divided on whether to need to raise interest rates as soon as possible, some fed voting members on July is that Britain's back when the medium and long term overseas risk; Most of the members is expected due to employment continues to increase, inflation risks are still relatively low; Part of the voting members meeting in July that need to raise interest rates as soon as possible. But several voting member said not in favor of raising interest rates in the short term, worries about the future employment growth.

2. In August, according to Reuters, Saudi oil production or continue to increase, to 1080 & ndash; 10. 9 million barrels a day, a record high, also more than Russia's production. Saudi Arabia's crude oil output by 10. 67 million barrels a day in July, for the record. Saudi Arabia claims for difficult oil conference next month is ready.
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