-
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
Recently, copper prices have been weak, and it coincided with the arrival of the off-season, and the market demand side performed slightly poorly
.
From the performance of the downstream during the week, demand was mainly concentrated on Wednesday, and it broke out on Thursday as copper prices fell to the low level of the year
.
However, due to the slightly cautious sentiment of downstream merchants, the purchase volume into the market is generally not large, and it quickly leaves the market after stocking, resulting in market demand failing to continue to follow up on weekends, and the spot copper discount has expanded
again.
In terms of news, the United States imposed 25% import tariffs on the first batch of 818 categories worth $34 billion worth of Chinese goods on the first batch of 818 categories on the list at 00:01 local time (12:01 Beijing time last Friday), and in response, China also imposed 25% import tariffs
on US products of the same size.
The Sino-US trade war officially started, copper prices have become one of the victims of the trade war provoked by US President Trump, and the slight decline in China's economic growth has also hit the demand outlook for the copper market, and copper prices have weakened
overall.
On the macro front, China's official manufacturing PMI in June was slightly lower than expected and the previous value, Caixin manufacturing PMI fell slightly, import and export prosperity declined, export deterioration and other factors put pressure on the manufacturing boom, slowing economic growth made the market worried about China's copper demand outlook, coupled with macro bearish factors such as the escalation of the Sino-US trade war, the market risk aversion heated up to put pressure on copper prices
.
Industry news
1.
Union officials said negotiations between BHP's Escondida copper miners and their management were "far from reaching an agreement" and were less than three weeks away from the deadline
.
After the company offered its final plan on July 24, the union is preparing $400,000 in emergency funds to support
workers if they choose to strike.
2.
PTFI, an Indonesian subsidiary of Freeport McMoRan Inc.
, has been extended until July 31, 2018, as negotiations on the Grasberg copper mine have not yet concluded
, an Indonesian mining ministry official said.
Future Market Outlook:
The US-China trade war has officially begun, and the market is focused on how much real impact
it will have on demand in the future.
The minutes of the Fed's June meeting show that the US economy is strong and reiterates the gradual interest rate hike, and the interest rate hike process is steadily advancing; US ADP employment in June was less than expected, companies could not find qualified employees, pay attention to the US June non-farm payrolls data
in the evening.
The domestic copper market is in a period of seasonal sluggish demand, there is no good news in the fundamentals, there is a lack of support for copper prices, and macro factors continue to dominate the market; Copper prices are expected to remain under pressure
amid investor concerns about the outlook for Chinese demand ahead of signs of easing the trade war or China's announcement of major policy stimulus.
