The hottest copper, zinc and rubber all rose by th

2022-07-24
  • Detail

Copper, zinc and rubber all rose by the limit. The industrial futures market ushered in a "red Monday" yesterday. The three futures of copper, zinc and natural rubber in Shanghai Futures Exchange collectively "blowout" and jointly rose the limit; The main contract of Shanghai Jiaotong reached an 8-month high, and Shanghai aluminum pulled out a huge amount of Changyang at the bottom

analysts pointed out that the sharp rise in metal and energy prices in the west, stimulated by Chinese buying before Christmas, was the direct cause of the "blowout" of domestic industrial futures yesterday in accordance with the requirements of the Convention. However, due to the great uncertainty in the market's judgment on the operation of the global economy and whether China's macro-control will cause economic damage, the strength of this round of rebound in industrial futures needs to be further observed

copper zinc glue rose by the same limit

on Friday, the London Metal Exchange (LME) copper futures rose to a two-week high. Due to the expected strong demand and Chinese capital purchasing in the market, short investors were forced to cover their positions, driving the copper futures to close at US $6795, up us $265. This has led to a surge in other metal varieties. In addition, crude oil futures also rose by more than $2, breaking through $93/copper

driven by the rise of crude oil and London metal, the metal and energy varieties of Shanghai Futures Exchange rose sharply one after another, and the three varieties of copper, zinc and rubber all closed the daily limit. Shanghai Rubber broke its position and went up. First, check whether the experimental machine is intact. The main 0803 contract was closed to the daily limit of 23600 yuan/ton in the afternoon, up 905 points, with 118342 transactions and 1034 positions increased. This price is also the highest price of Shanghai Tianjiao since April, 2007; Copper and zinc prices performed more strongly, and both closed the trading limit shortly after the opening. Among them, the main 0803 contract of Shanghai copper rose 2780 yuan to close at 58460 yuan/ton, and the main 0803 contract of Shanghai zinc rose 730 yuan to close at 19075 yuan/ton. It is worth noting that the main contract of Shanghai zinc has touched the daily limit for the third consecutive trading day

cailuoyi, general manager of Shanghai mid-term R & D department, said that the recent spot premium and the rapid rise in foreign metal prices have prompted the figures to show that high impact funds enter the market before the festival, thus driving the domestic market prices; At the same time, short funds cut meat on a large scale last weekend, intensifying the upward rhythm. With the inventory in Shanghai decreasing for the sixth week in a row, indicating that Chinese consumption is showing signs of resurgence, some investors are somewhat optimistic about the demand outlook

the strength of the rebound remains to be seen

in view of the sharp rise in industrial products near the end of the year, optimists point out that, on the one hand, the view that the global economy as a whole is still healthy has disappointed pessimists; Last week, the US Federal Reserve and the European Central Bank injected another US $20billion to increase market liquidity, which excited the market; On the other hand, the central bank raised interest rates again last week. Although raising interest rates is bad for the outlook of metal demand, it also means that the metal supply will be reduced and it will be more difficult for smelters to increase production. Two major factors stimulated the long falling metal market, resulting in a rapid rebound

however, most analysts believe that the strength of this round of industrial product price rise remains to be seen, especially the future operation of the global economy and the impact of China's macro-control on the economy. Jing Chuan, chief researcher of Great Wall Weiye, pointed out that on the whole, the surrounding environment of the metal market is still benign, which provides support for the overall bull market of metal. However, whether it can be sustained depends on whether the market has sustained power. "At present, we still position it as a rebound, and the rise of Lun copper will be above $7000," Jingchuan said

Barclays said that metal prices have stabilized, but sentiment is still fragile and vulnerable to fluctuations in the financial market, while the lack of vitality of the spot market and the overall upward trend of London inventory have also dampened sentiment. Despite the continuous decline of inventory in Shanghai, the London Metal Exchange (LME) copper warehouse increased by 2650 tons to 198325 tons last Friday

note: the reprinted contents are indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with their views or confirm the authenticity of their contents

Copyright © 2011 JIN SHI