-
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, London copper opened at 4653 US dollars / ton, the Asian session London copper Shun daily moving average oscillation strengthened, blocked at the 5-day moving average, the euro continued to fall during the European session, the dollar passively rose to 98.
606, bulls have left the market, copper prices under pressure and gradually away from the daily average, the low touched 4633.
5 US dollars / ton, won the lower Bollinger Road support counter-draw, upward impact the 5-day moving average, recorded a intraday high of 4664.
5 US dollars / ton, the high inspired a wave of long profits to close positions, London copper downward and then explore the lower edge of the track, At the end of the day, it rushed back down again, and finally closed at $4644 / ton, down $8 / ton
.
Copper fell last cycle on concerns about the impact of China's curb real estate overheating
.
China's real estate market is the main driver of copper demand
.
Analysts believe that China's copper imports may decline
in the future due to measures to restrict the real estate industry.
Moreover, the rise in the dollar and its impact on commodity prices should not be underestimated, and it is not surprising
that copper continues to fall.
Data showed that new home prices in 70 major Chinese cities rose by an average of 11.
2%
in September compared with the same period last year.
China's copper premium rose $5 to its highest level of $70 a tonne since March, giving perhaps some hope
that copper demand could pick up during the peak demand season in the fourth quarter.
Copper futures on the London Metal Exchange (LME) fell slightly on Friday, falling for the third week in a row, as the dollar hit an eight-month high and concerns about Chinese demand
.
At 16:00 London time on October 21 (00:00 Beijing time on October 22), three-month copper closed down 0.
4% at $4,635 a tonne, not far from
a one-month low hit last week.
On Friday, the upward movement of London copper was weak, it was difficult to break below the 5-day moving average, and the lower Bollinger band opened downward, and it is expected to operate in the range of 4630-4660 US dollars / ton
today.
Today, focusing on the preliminary manufacturing PMI for October in the United States and Europe and the US Chicago Fed National Activity Index for September, the market expects the preliminary manufacturing PMI in the euro area for October to continue to improve, boosting the euro.
