Weak copper shock callback, the market consumption
Metal dynamic: the southern copper corporation (
, said on Monday in the second quarter net profit fell by 24.
7% to 2.
$21. 9 billion, or 0 per share.
$29, because copper prices continue to fall.
the company operating mines in Peru and Mexico.
It said in the second quarter of copper production rose 26.
1%, benefiting from its Buenavista mines.
the company said, copper production of 447503 tons in the first half of this year, is expected to reach 913500 tons annual production.
the futures market overview: LME3 month copper in today.
Morning trading at $4908, from the highest point 4912 dollars shock decline, stabilize rebound after dipped low $4878 at noon, afternoon rebound slightly, domestic trading period closing at 4896 dollars.
Today Shanghai copper main 1609 shakeouts.
Day dish sideways, noon after hitting a low rebound slightly, closed at 37810 yuan, down 370 yuan, or 0.
97%, reducing 12824 holdings to 236284 hands.
Spot market overview:
Shanghai trading center (metal extraction solution today
The original WuMao colored spot market)
, the spot copper main clinch a deal in 37600 - in the morning
37740 yuan/ton, compared with the previous working day fell 405, rise in c120 - discount
The b20 yuan, a rise of 5 yuan in the last working day.
Market well supplied, today is more import inventory, before shipment of traders actively, a small amount of procurement, smelter basic don't shipment, guangdong area smelter small shipment, but the overall deal.
Downstream manufacturers remained wait-and-see attitude, weak demand.
L yield is increased in the morning, afternoon in the b20 - good copper
B40 yuan, smooth water copper c10 -
B10 yuan, wet the c110 - copper
According to Shanghai trading center metal extraction solution results, traders view is not clear.
center point: $index small step back today, but still remain high, the crude oil is still falling, metal extraction solution is a short-term correction.
In June because the U. S. economic data is strong, the market have to return to focus on the fed to raise interest rates of time.
However, other global central Banks to drain the expected still exists, the bank of Japan after the meeting, the market is expected to have launched a massive stimulus, for monetary easing and liquidity of the market hype or will not stop.
Terms of fundamentals, copper by weak levels of consumption off-season trading a short-term correction, but Aaron copper and Shanghai copper supported are very strong in 20 daily average lines.
Shanghai copper main underweight and holdings shrink, weak market activity, short-term is expected to give priority to with shock, shock interval 37200 -