129733241361096250_1144Recent strong price performance, after the LME copper price in supporting effective test $ 8,300 turned upward.
Generally speaking, LME stocks of change continues to benefit in the short term, improvements in China's consumer
diablo 3 gold, short-term price there is room for further upside, is expected to gradually recover the lost ground in early. Recent strong price performance, LME copper price in test 8$ 300 after supporting effective turned upward, lost ground in the early day to recover.
Short term, macro brought improvement in investor sentiment improved, support is still the basic price of copper prices still up space. United States strong improvement in investor sentiment recently announced global macro-economic data-intensive. The one hand, national data showed a significant improvement in manufacturing.China, us and Europe manufacturing purchasing managers ' index has varying degrees of improvement. United States particularly strong performance. United States January manufacturing purchasing managers ' index rose to the highest level since June last year. Manufacturing purchasing managers ' index improving at the same time, the new orders index performed better than other parts. This improved investor for later United States manufacturing conditions expected. Another, Long-standing market United States unemployment show signs of improvement. United States January non-farm jobs increased 243,000, significantly higher than the expected increase of 150,000. At the same time, United States unemployment rate in January was 8.3%, to the lowest levels since February 2009. Employment data will improve or bring a late United States personal income growth for the United StatesProviding more power consumption, which helps to ease investor for the United States and the global economic slowdown fears.
For non-ferrous metals market, which means that improvement in investor sentiment, while improving manufacturing data will also be promoting the consumption of non-ferrous metals, including copper in the late. LME inventory displays more than profits in the late rounds of copper roseCheng, Chinese imports and expected decline in LME stocks cannot be left unrecognized. Short term, the trend of decline in LME stocks remains unchanged, and cancel the warehouse inventory ratio rose to high 28%.
High cancellation of warehouse receipt later than investors expected inventories will decline, and the reasons for this decline due to imports of consumption demand in China. SoBut, I think high cancellation of warehouse receipts than does not simply boil down to the China factor. First, the current domestic and foreign price has fallen to 7.1, traders imported losses increase, traders enthusiasm of imports fell sharply. Second, log off current LME Copper warehouse receipts of growth and decline in inventories mainly occur in North America. Asian warehouse inventory inventory clearDecline, but remained above 25,000 tons. Again, log off current warehouse significantly higher percentage. In 2009, when domestic imports, cancel the warehouse inventory ratio is below 20%. Write-off of large warehouse means there are two possible percentage. Is the United States consumption showed a significant improvement, replenishment and there may be lots of enterprises of ChinaFactors promoting the stock decline. II is the part of the market participant for any purpose to move inventory and warehouse operations.
Regardless of what speculation is one of the, the copper market means more than profits. Chinese consumption is improving but still need to watch after entering the new year, domestic consumption is much weaker in the lower. January domestic copper rod industry operating rate fell to 61.52%,Fell more than 15%. After the Festival, downstream processing enterprises will be started, it is reflected from the enterprise in order. Most of the companies are order will increase, but some enterprises that 2012 may be weaker than last year. It's meant for domestic consumption, and growth as a general trend, but actually still need further observation. ThereforeAnd consumption cannot be too optimistic about China's 2012 years. Early imports large amounts of copper led to significantly increased domestic supplies. On February 3, 2012, the Shanghai Futures Exchange copper inventories increase 48,246 tons, an increase of 36%. Inventories increased by means of late domestic supply pressure increases. In current prices at home and abroad, as well as spot up premium has been。
If late weaker-than-expected real consumption situation in China, it will bring large market pressures. Of improvement in global manufacturing, as well as United States employment improvement in investor sentiment improving at the same time, consumption growth will also have a copper. Meanwhile, LME stocks of change continues to benefit in the short term, improvements in China's consumption, on the whole, short copper is still too many,Prices there is a room for further upside
swtor power leveling, is expected to gradually recover the lost ground. LME Copper $ 8650-8700 will continue to test the resistance
Diablo 3 Gold, if you break, the next resistance level at $ 9,000. Relatively weak domestic performance of the Shanghai copper. Body source: jinrui futures
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