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    Home > Chemicals Industry > New Chemical Materials > April 18 London Morning Review

    April 18 London Morning Review

    • Last Update: 2022-12-05
    • Source: Internet
    • Author: User
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    On Monday, the market will continue to be closed due to the Easter holiday, and the night trading will not be traded
    .
    Today, the LME opened higher at 5725.
    5 US dollars / ton, and London copper is expected to run in the 5 and 10-day moving averages within the day, with a range of 5710~5770 US dollars / ton
    .

    London copper

    China's economy grew at 6.
    9 percent in the first quarter, the fastest quarterly pace since the third quarter of 2015, driven by credit and infrastructure spending and continued rapid growth in the real estate market
    .
    Growth in the first quarter was slightly higher than the 6.
    8 percent growth rate set by the Chinese government in the fourth quarter of last year and well above the annual growth target
    of about 6.
    5 percent set by the Chinese government.
    Economists said they expect the credit-fueled momentum to continue into the second quarter, after which growth momentum will moderate.

    Separately, China's National Bureau of Statistics reported a 6.
    9 percent GDP increase on Monday, higher than the 6.
    8 percent
    forecast by economists previously surveyed by Er Street Daily.
    China is the world's largest consumer of copper, so the country's economic data usually influences copper price movements
    .
    Analysts at Bank of America Merrill Lynch wrote that looking closely at China, activity in most areas is resilient
    .
    Spot demand for base metals also remained flat
    , analysts said.

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