subject: Holiday LME 5 with weak Yang Gaokaidizou Shanghai copper - copper, aluminum - HVAC & R industry [print this page] Holiday LME 5 with weak Yang Gaokaidizou Shanghai copper - copper, aluminum - HVAC & R industry
HC HVAC & R Network Copper: LME copper rose sharply during the week long holiday in China, U.S. economic data released during the period were favorable copper prices, while the United States also failed to suppress the copper-adjusted discount rate, the dollar once again out of copper with a situation up, once the highest intraday red points to 7450, prices have been back to the end of January near the ups and downs, and finally received 7415 points, rose more February 12 620 points, or 8%. LME stocks increased substantially during the holiday, the total stock increased to 554,800 tons, 2.88% cancellation of warehouse receipts. Shanghai copper contract today, the main force
1005 the first day of vacation exchange and expanded to 7%, as LME Shanghai copper surged nearly 8% so sharply higher open on the 59 990 points, but only up to 60,000 points, does not reach the daily limit will come down , opened a rapid decline occurred instantaneously, the minimum fell below 59,000 points to 58,950 points, followed by the price volatility has started around 59 300 points, against yesterday's midday close at 59,200 points, up 2920 points, rose 5.19%. Morning total volume increased slightly over the previous trading day, the total open interest decreased to 354 200 7482 hand-hand. Today's spot price 58750-58900 points, premium 400 - 250 point premium, trading volume is very common today, some companies are still holidays, in fact, even the small traders are also not to work on. Recommendations: LME copper a month out of a V-type, the rebound momentum of the market has exceeded the expected, but the price will be close to 7500 points after strong resistance. Shanghai copper Although substantial compensatory growth, but not closed to the daily limit, in general, the domestic gains as foreign disks, see the trend more than China in terms of weaker. Way today to Tiaokonggaokai fill out January 27 in the fall upward gap, but the price point can not stand on the 60000 platform. From the market outlook, the short-term copper prices will continue to point in the 62000-52000 shocks within a large box, not to chase the sell into corrections on a range of transactions.
Aluminum: LME aluminum during the holiday trend is the weakest of the three varieties, the price has been unable to break through 2,200 points, platform, restart the production of negative Russian aluminum prices and huge inventory pressure appeared again, and finally closed at 2140 points, more yesterday rose 85 points, or nearly 4%. LME stocks have soared there a single day, the total stock to 4.5987 million tons, 6.56% cancellation of warehouse receipts. 1005 Shanghai aluminum main contract
opened sharply higher at 17,485 points, after opening the price down to 17,000 points hormone platform sideways on the platform of a child and the price point of the next steps to 16900-17000 range order, to close at midday 16 975 points, was up 150 points against yesterday's 0.89% gain. Against yesterday morning, a small increase in volume, the total open interest increased slightly to 318 200 3548 t hand. Today, the spot price of 16480-16520 points, many companies still leave other provinces, closing quite deserted, and there are few telephone inquiry. Downstream consumer business generally do not work after the first month 15 will be re-rework, so almost no turnover. Recommendation: Shanghai aluminum front defensive movements, but the same price more stagflation, the backlog in the country under a lot of spot and futures prices also rose substantially difficult to occur. Short-term market outlook, the price will continue to shock the main, do not chase the sell into corrections on a range of transactions.
Zinc: LME zinc success during the long holiday break point platform of 2300, but never been able to further stand on the 2400 point barrier, closing at 2350 points, up rose 185 points, or 8%. LME stocks increased substantially, the total stock to 541,300 tons, 1.00% cancellation of warehouse receipts. LME zinc due to large increases in total, the price will return to pre-launch vibration platform amendment.
Shanghai zinc significantly higher 1005 contract opened at 19,480 points, opening rose 6.3% but the morning shall be the highest price, the price sharply higher open after rapid dive, straight below the 19,000 point mark, near stabilized stabilized at 18,900, its always around 19 000 points after the start price fluctuations, am against yesterday's closing price of 18,310 points, up 320 points, or 1.78 percent, yesterday morning, a small increase in trading volume, reducing the total contract positions 2696 to 249,800 hand hand.
