According to monitoring data, the spot price of domestic non-ferrous metals rose generally yesterday, with the smallest increase in lead and zinc, which rose by 50 yuan/ton. The spot nickel price in Shanghai market rose the most.
The copper market continued to rise strongly, with the spot market being at a discounted price, but the consumer still focused on reducing stocks. The investor’s bullish sentiment rose, and the market’s overall turnover began to improve. The spot aluminum traders are relatively cautious about this phase of the rebound. They believe that this round of rebound is not a reversal, and the likelihood of a later fall is more likely. Therefore, the purchase interest is not high and the transaction is more cautious.
On the previous day, LME base metals outside the city performed sluggishly during the Asian trading hours and generally fell. The current decline has slowed down. LME aluminum has rebounded and has risen slightly. The LME copper in March was concerned about whether the 7760 line resistance was effective. Fought in the domestic Shanghai Metals, today's overall trend to acquiescence down, the early rebound rate has narrowed, Shanghai aluminum performance is more eye-catching, leading the metal market today, Shanghai copper 56000 first-line support is weak, the main evening closing at 55970.
According to the monitoring of non-ferrous metal price index, today's non-ferrous metal price index was 44,488 yuan / ton, a daily increase of 0.69%. In terms of varieties, the nickel index rose by more than 1% on a daily basis, ranking first, while other copper, aluminum, lead and zinc indices rose by 0.54%, 0.85%, 0.41%, and 0.29%, respectively.
Copper industry, according to the survey, over 80% of cable companies are not optimistic about the orders in July, mainly due to the domestic economic situation is not clear to suppress, while the domestic copper industry inventory is low, the tight spot, and downstream consumption is still sluggish, With weak global economic data, investors are optimistic that major economies will further introduce economic stimulus policies to boost demand for copper in the industry and trigger short covering to boost copper prices.
On a macro level, the US factory orders index in May unexpectedly rose to 0.7%, far higher than market expectations. The US’s car sales in June performed well, implying that the whole year will hit a new high in five years, boosting the base metal prices. And the market expects that the euro area will take interest rate cuts, and at the same time anticipate that the UK bond purchase plan will expand. In June, the Chinese service industry experienced unexpected and strong growth. The expansion rate was the fastest in three months and also boosted market sentiment. In addition, short covering by some traders also helped to increase metal prices.
While almost all major economies in the world are facing difficulties and manufacturing activities are in the doldrums, a new round of stimulus policies may be ushered in globally. The market’s expectation of various policies in the euro area later this week is driving up the basic metals. .
The copper market continued to rise strongly, with the spot market being at a discounted price, but the consumer still focused on reducing stocks. The investor’s bullish sentiment rose, and the market’s overall turnover began to improve. The spot aluminum traders are relatively cautious about this phase of the rebound. They believe that this round of rebound is not a reversal, and the likelihood of a later fall is more likely. Therefore, the purchase interest is not high and the transaction is more cautious.
On the previous day, LME base metals outside the city performed sluggishly during the Asian trading hours and generally fell. The current decline has slowed down. LME aluminum has rebounded and has risen slightly. The LME copper in March was concerned about whether the 7760 line resistance was effective. Fought in the domestic Shanghai Metals, today's overall trend to acquiescence down, the early rebound rate has narrowed, Shanghai aluminum performance is more eye-catching, leading the metal market today, Shanghai copper 56000 first-line support is weak, the main evening closing at 55970.
According to the monitoring of non-ferrous metal price index, today's non-ferrous metal price index was 44,488 yuan / ton, a daily increase of 0.69%. In terms of varieties, the nickel index rose by more than 1% on a daily basis, ranking first, while other copper, aluminum, lead and zinc indices rose by 0.54%, 0.85%, 0.41%, and 0.29%, respectively.
Copper industry, according to the survey, over 80% of cable companies are not optimistic about the orders in July, mainly due to the domestic economic situation is not clear to suppress, while the domestic copper industry inventory is low, the tight spot, and downstream consumption is still sluggish, With weak global economic data, investors are optimistic that major economies will further introduce economic stimulus policies to boost demand for copper in the industry and trigger short covering to boost copper prices.
On a macro level, the US factory orders index in May unexpectedly rose to 0.7%, far higher than market expectations. The US’s car sales in June performed well, implying that the whole year will hit a new high in five years, boosting the base metal prices. And the market expects that the euro area will take interest rate cuts, and at the same time anticipate that the UK bond purchase plan will expand. In June, the Chinese service industry experienced unexpected and strong growth. The expansion rate was the fastest in three months and also boosted market sentiment. In addition, short covering by some traders also helped to increase metal prices.
While almost all major economies in the world are facing difficulties and manufacturing activities are in the doldrums, a new round of stimulus policies may be ushered in globally. The market’s expectation of various policies in the euro area later this week is driving up the basic metals. .
Cold Shrink Tube,Cold Shrink,Cable Accessories
Tianrui Fiberglass Composites Co., Ltd. , http://www.sdfiberglassmesh.com