crashbandicoottrilogynintendoswitch|LME铜价反弹：每吨收报9910美元，中国金融市场劳动节休市
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London Metal Exchange (LME) copper price rebounded 1% on FridayCrashbandicoottrilogynintendoswitch.48%CrashbandicoottrilogynintendoswitchIt closed at $9910 a tonne, down about 0.4 per cent for the first time this week. Weak US jobs data led to a fall in the dollar index, while copper prices rose under the influence of dollar denomination. ICSG lowered its forecast for global copper surplus this year to 162000 tons and is expected to be in short supply. The reopening of China's financial markets next Monday could affect copper prices.
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The price of copper on the London Metal Exchange rebounded on Friday to close at 9 per tonne.Crashbandicoottrilogynintendoswitch, 910.00 dollars
Weak US employment data led to a fall in the dollar index, affecting commodity prices
The Bureau of Labor Statistics reported that non-farm payrolls increased by 175000 in April, the unemployment rate rose to 3.9%, and wage growth slowed. Weak employment data sent the dollar index to a three-week low, making dollar-denominated commodities more attractive to buyers in other currencies.The change of market sentiment has aroused concern, and whether the rising trend of copper price is excessive has become a hot topic.
Nitesh Shah, commodities strategist at WisdomTree, said sentiment had changed dramatically and copper and other metals markets had been boosted. He raised questions about whether the rise in copper prices was excessive, citing data released this week by the International Copper Research Group (ICSG), which cut its global copper glut forecast to 162000 tonnes this year from 467000 tonnes in October.Financial markets are closed during Chinese festivals, and trading volume of metals is lower than normal.
China's financial markets were closed from May 1 to 3 because of International Labour Day's holiday, resulting in lower-than-normal metal trading. In addition, analysts at Sucden Financial predict that increased market activity could exacerbate any continued risk aversion as the Chinese market reopens next Monday.For other base metals, the price of three-month nickel rose by more than 3%
In addition to changes in copper prices, other base metals have also changed. Boliden of Sweden announced that it would restart production of the Tara zinc mine in Ireland in the third quarter. Three-month nickel prices shrugged off LME inventories, their highest level in 15 months, rising more than 3 per cent to $19237 a tonne. In the past five months, nickel stocks have soared by 73%. The presence of the jade LME nickel warehouse climbed to 78780 tons on Wednesday.2024-05-05 00:20:58
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