-
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
On Friday, copper prices held steady after hitting a one-week high the previous day, as investors were relieved
by China's easing monetary policy aimed at spurring growth, the largest copper consumer.
The US PPI recorded the largest year-on-year increase in five years in April, and market expectations of the Federal Reserve's June interest rate hike further heated up, and intraday copper rebounded slightly, but the dollar strengthened in the afternoon to suppress copper upside heights
.
As of 15:00 Beijing time, London metal (LME) copper was last quoted at $5535.
5, down $3, or 0.
05%.
In the evening, pay attention to the US CPI index and consumer confidence index for April
.
The People's Bank of China (PBoC) conducted an MLF (medium-term lending facility) operation as expected on Friday, and the scale of the renewal exceeded the maturity of this month, which supported the overall easing of interbank market liquidity, and the overnight and seven-day short-term capital supply was relatively sufficient
.
China's central bank reported on Friday that new RMB loans amounted to 1.
1 trillion yuan in April, well above the median survey of 714 billion yuan.
The broad money supply (M2) rose 10.
5% year-on-year at the end of the month, below the median survey of 10.
8% and a nine-month low
.
The PBOC conducted RMB459 billion MLF operations without reverse repurchase operations in the open market during the day, and the six-month and one-year interest rates were unchanged at 3.
05% and 3.
20%.
During the day, 30 billion yuan of reverse repurchase expired
in the open market.
At 1105 GMT, the LME three-month copper held steady at $5,544.
50 a tonne, up 0.
8%
from the previous close.
LME data showed copper stocks slipped by 7,350 tonnes to 329,375 tonnes, the lowest level
since March 3.
Copper stocks on the Shanghai Futures Exchange slipped to 194,993 tonnes, the lowest
since Jan.
20.
A technical analyst said LME copper could test the $5,472 per tonne support level, breaking below which could lead to a further fall into the $5,365-5,427 range
.
