-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
The external market rose sharply during the holiday, and Shanghai copper opened 73,000
higher in the morning.
The global manufacturing procurement-purchasing managers' index in May was 53.
5%, up 0.
3 percentage points from the previous month; the resumption of domestic production and work boosted market risk appetite
.
The US non-farm payrolls data for May was significantly better than expected, which helped the dollar index rebound, and the Federal Reserve is expected to maintain hawkish interest rate hikes and put pressure on non-ferrous external markets
.
Copper prices beware of opening high and going low, and Shanghai copper mainly pays attention to 7.
24-73,000 support and pressure level strength
.
In the spot market, the enthusiasm of the downstream to enter the market before the Dragon Boat Festival is not high, the willingness to stock is weak, cautious to buy at the dip just need to replenish the stock, the holders continue to adjust prices, and the trading of the two sides is still deadlocked
.
In terms of stocks, as of May 27 to June 1, London Metal Exchange (LME) copper stocks fell by 10,225 tons to 145,950 tons, down 6.
55%; As of June 2, the weekly inventory of the previous period increased slightly by 1,801 tons to 43,347 tons, up 4.
33%
from 41,546 tons in the previous week.
On the supply side, the Shanghai area has been fully unblocked, enterprises have actively promoted the resumption of work and production, the market has gradually resumed orderly normal business exchanges, the supply of raw materials for smelters is basically sufficient, and the enthusiasm for scheduling production is high, but smelters in East China are still under maintenance, and copper mines in South America are constantly disrupted, or cause supply concerns
.
In terms of demand, the Dragon Boat Festival has not yet got rid of the impact of flat demand and flow restrictions, and the demand for stocking is weak, but the state specifically proposes to include new infrastructure and new energy in the focus, or it is expected to boost downstream consumption, and proposes a phased reduction in passenger car purchase tax, which will greatly boost the automobile consumer market and stimulate copper metal demand
.
At present, the macro bearish is still there, but the resilience performance of the US economy is still strong, the domestic policy warm wind is blowing frequently, and the support of low inventories on copper prices is increasing, and the short-term performance of Shanghai copper is strong
.
