-
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
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Copper market morning comment: Wednesday's copper prices fluctuated at a high level, and the low level still met with support
.
The dollar retreated again after being stalled, and expectations that the European and US central banks will roll out more stimulus policies next week remained the main support
.
In addition, the United States restarted bipartisan stimulus negotiations, and the United Kingdom became the first country
to start using vaccines.
China's Caixin manufacturing PMI in November hit a decade high of 54.
9, and the Eurozone's November manufacturing PMI final value was 53.
8, with most countries performing better than expected
.
The resumption of a new round of stimulus policy discussions in the United States, the discussion of a new round of bond purchase programs by the Federal Reserve, coupled with the good news of vaccines, the market's risk appetite has been significantly repaired
.
The supply side is tight, mine supply recovery is not as expected, imported copper concentrates and mineral sands fell sharply in October, and there are still tightening expectations, and the continued decline in refined copper inventories partly reflects strong demand
.
However, with the rapid rise of copper prices, the market is afraid of heights, the premium continues to decline, the overall transaction is weak, and some imported copper may arrive in the near future, and there is a possibility of inventory recovery, and it is expected that the probability of copper price shock is high
.
In the copper market, domestic inventories at historic lows remain the biggest support
in the market.
For next year's supply, CRU said that real easing of supply will not be achieved until 2023, and the uncertainty that most mines in Chile will have to re-sign labor contracts next year
.
Technically, the LME breached the 2018 high of $7,348 and targeted the upside at $
8,000 and $10,000.
