-
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
Copper prices fell unilaterally this week, and Shanghai copper opened low and went low during the week, breaking down
.
As of 3 p.
m.
on Friday, the main 2207 contract of Shanghai copper was at 69,740 points, a weekly decline of 4.
01% or 2,910 yuan
.
Weekly spot copper fell by about
2,700 yuan.
The Central Bank Super Week came to an end, with the Fed leading the wave
of interest rate hikes with 75 basis points.
The US CPI data released on Friday evening rose 8.
6% year-on-year, the highest since December 1981, and proved that April was the inflection point
of inflation.
The market raised bets on the Fed's June rate hike, and the dollar index went all the way higher
.
The closely watched Fed rate decision came out in the early hours of Thursday, and the consensus forecast of a 75 basis point rate hike by the market earlier came true
.
But Powell said that this rare sharp rate hike will not be the norm
.
Market sentiment picked up in the short term, followed by a slowdown in tightening expectations, and then quickly deteriorated, questioning the possibility of a soft landing for the Fed and fearing a recession
that could lead to policy mistakes.
And the latest data, including initial jobless claims, housing starts, and other data, further indicate that economic activity in the United States is slowing
.
Financial markets are strong in risk aversion, Shanghai copper broke downward, and the operating range moved down below
70,000.
The main domestic economic data in May reflected that the economic recovery was slow, among which the real estate industry is still difficult to hide the decline, but the tone of the country's stable growth remains unchanged, and follow-up demand is expected to be fulfilled
.
In terms of the market, spot copper fell by 2700 yuan this week, and good copper rose 300
.
Regional differentiation has intensified, affected by the resumption of production and work around Shanghai, the inventory in the spot market has declined, and the premium has been relatively firm; Demand around Guangdong was weak, and the premium remained
downward.
Overall, there are no signs of
significant improvement.
In terms of import profit and loss, the US dollar hit a new high in nearly 20 years, the volatility of the foreign exchange market expanded, and the import profit window opened, which is now maintained around
200 yuan / ton.
On the supply side, the explicit low inventory support logic is still there
.
At present, there is a demand for sentiment repair in the market and an oversold rebound, and it is recommended to observe whether 69000 can successfully build a bottom
.
