No political impetus and high supply from China weigh on Copper price – Commerzbank
19.07.2024, 11:47

No political impetus and high supply from China weigh on Copper price – Commerzbank

Base metal prices remained under pressure this week: the Copper price slipped below $9,400 per ton yesterday. After all, market participants had to face some price-dampening news, Commerzbank’s commodity strategist Carsten Fritsch notes.

Copper stocks continue to rise

“The communiqué following the Third Plenum of the Communist Party in China was generally considered as vague. Some interpreted the emphasis on high-quality and innovative growth as a willingness to accept a slower pace of growth. Essentially, this indicates a continuation of the previous guidelines and there were no major surprises.”

“According to China's National Bureau of Statistics, refined Copper production rose slightly again in June and was therefore 3.6% higher than the previous year. This means that the correction, in the course of which Copper production had declined somewhat following the strong growth rates before, did not continue.”

“China's customs authority reported record-high exports of unwrought Copper and Copper products for the second month in a row in June. This indicates weak domestic demand. Copper stocks continue to rise: almost 230 thousand tons are now registered at the LME, 120% more than in May. Although Copper stocks on the Shanghai Future Exchange are no longer rising, they remain at a high level.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik